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 22 years. The coupon rate will be 9%, and the par value 1,000. These bonds will be sold at $932.81 in the market, but the investment banker will receive a 6.5% commission on the sold bonds. The original bonds have 10 years to maturity and are semiannual, with a coupon rate of 7.5% and a price of 1,035.53. There are 15,000 bonds outstanding from this senior issue. What is the new cost of capital for Hollydale's if the company still has 440,000 shares outstanding selling at $26.26 with an annual dividend growth rate of 2.0% and the last annual dividend of $2.40? The tax rate remains at 30%.

What is the adjusted WACC for Hollydale's if the corporate tax rate is 30%?