A US-based company has a market value of its debt equal to $40 Million and has 3 Million outstanding shares of stock, each selling for $20 per share. The company pays a 5% rate of interest on its new debt and has a beta of 1.41. The corporate tax rate is 34%. The risk premium on the market is 9.5%. The current treasury bill rate is 1%. What is the firm's weighted average cost of capital? [10 m]