a home improvement company located in Atlanta. Two years ago, Del Sur issued 30,000 semiannual 23-year bonds with a coupon rate of 9% and a par value of $1,000. The bonds currently have a yield to maturity (YTM) of 10%. The company currently has 1,000,000 common shares outstanding. The shares sell today for $19 each. Del Sur paid an annual dividend of $4.00 last year to its shareholders and it plans to increase the dividend annually (forever) at the rate of 3.0%. What is the weighted average cost of capital (WACC) for Del Sur if the corporate tax rate is 30%?