Arton Ltd has a capital structure that consists of 8 million of debt, 3 million of preferred stock, and 13 million of common equity, based upon current market values. Arton's yield to maturity on its bonds is 7.4%. Investors require a 9% return on Arton's preferred shares and a 12% return on Arton's common stock. If the corporate tax rate is 30%, what is Arton's WACC? 9.78% 9.35% 10.35% 5.35% 11.35% 4