ABC company has a capital structure that consists of 70 percent common stock and 30 percent long-term debt. ABC company currently has 15-year bonds outstanding with annual coupon payments of 8 percent. The bonds have a face value of $1,000 and a yield to maturity of 7%. The risk-free rate is 5 percent, market risk premium is 4 percent. The beta on ABC common stock is 1.1 and company tax rate is 40%. Calculate ABC company WACC.

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