Assume that the current stock price of a company is $30 per share. The company declares a cash dividend of $3 for the next year which is expected to grow by 3% per year forever. If the company is 45% debt financed with a pre-tax cost of debt of 11%, its weighted average cost of capital (WACC) for a 25% tax rate is closest to: Select one: a. %12.1 b. %7.86 c. %9.21 d. %10.86