a.A Toys Company has 2.5 million shares in issue. The current market price is $34 per share. The company's debt is publicly traded on the London Stock Exchange and the most recent quote for its price was at 88% of face value. The debt has a total face value of $ 10 million and the company's credit risk premium is currently 2.9%. The risk-free rate is 3.8% and the equity market risk premium is 7.4%. The company's beta is estimated at 1.4 and its corporate tax rate is 31%.

Required: Calculate the company's WACC.