Adams corporation outstanding bonds are selling at $900 the bonds have a face value of $1000 annual coupon rate of 7% and 10 years until maturity. The bonds make annual coupon payments. The new bonds will be as risky as the old bonds however the firm will incur flotation costs of 5% on new bond issue. Its tax rate is 20% it can sell new preferred stock at $100 per sharewith a dividend per share is $3.00 and the dividend is expected to grow at a constant rate of 5% per year the corporation plans to raise its equity capital by retained earnings the target capital structure conisits of 30% debts 10% preffered stock and 60% common equity what is the WACC