A Toys Company has 1.2 million shares in issue. The current market price is $28 per share. The companys debt is publicly traded on the London Stock Exchange and the most recent quote for its price was at 94% of face value. The debt has a total face value of $8 million and the companys credit risk premium is currently 2.7%. The risk-free rate is 3.6% and the equity market risk premium is 7.1%. The companys beta is estimated at 0.96 and its corporate tax rate is 36%.

Required: Calculate the companys WACC.