Adjusted WACC. Hollydale's will issue an additional 7,000 bonds with the help of an investment banker. The bonds will be semiannual bonds with a maturity of 23 years. The coupon rate will be 9%, and the par value $1,000. These bonds will be sold at $1,019.88 in the market, but the investment banker will receive a 6.5% commission on the sold bonds. The original bonds have 14 years to maturity and are semiannual, with a coupon rate of 8.5% and a price of $1,041.66. There are 19,000 bonds outstanding from this senior issue. What is the new cost of capital for Hollydale's if the company still has 420,000 shares outstanding selling at $24.38 with an annual dividend growth rate of 5.0% and the last annual dividend of $1.60? The tax rate remains at 20%. What is the adjusted WACC for Hollydale's if the corporate tax rate is 20%? % (Round to two decimal places.)