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Assume that you are on the financial staff of Jamar Inc, and you have collected the following data: The yield on the company s outstanding

Assume that you are on the financial staff of Jamar Inc, and you have collected the following data: The yield on the companys outstanding bonds is 9%, its tax rate is 21%, the next expected dividend is $2 a share, the dividend is expected to grow at a constant rate of 10% a year, the price of the stock is $15 per share, the flotation cost for selling new shares is F =10%, and the target capital structure is 15% debt and 85% common equity. What is the firm's WACC, assuming it must issue new stock to finance its capital budget?

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