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Assume APL has debt with a book value of $20 million, trading at 120% of par value. The bonds have a yield to maturity of

Assume APL has debt with a book value of $20 million, trading at 120% of par value. The bonds have a yield to maturity of 6%. The firm has book equity of $20 million, and 2 million shares trading at $18 per share. The firm's cost of equity is 12%. What is APL's WACC if the firm's marginal tax rate is 35%? A. 9.60% B. 8.76% C. 9.00% D. 6.24%

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