An all-equity company has common and preferred shares. There are 250,000 common shares outstanding with a price of $54.70 per share and with an expectation to continue to provide a dividend of $5.40 per share. There are 50,000 preferred shares outstanding, with a 6.22% dividend, $100 par value per share, and $83.90 market value per share. Given this information, what is the company's WACC?

8.60%

8.83%

9.06%

9.29%

9.53%