ABC corporation has $500 mil worth bonds outstanding at face value with a 7.5% coupon rate paid semiannually. These bonds were issued six years ago with 25 years to maturity. The market price of these bonds is $952.3, and they were issued with the face value of $1000. The corporate tax rate is 20%. The company also has 5 mil shares of common stock outstanding that currently sell for $30 per share. The stock has beta of 1.2. The risk-free rate is 4%, and the expected return on the market is 10%. The firm is expected to pay $2.25 per share dividend next year. It also forecasts the constant annual dividend growth rate of 4.5% till perpetuity.

What is the firms weighted average cost of capital (WACC), if the firm calculates the cost of equity by taking average between the results from the DGM and SML models?