Assume that you are on the financial staff of Vanderheiden Inc., and you have collected the following data: The yield on the company$$s outstanding bonds is $7\mathrm{.}75\%,$ its tax rate is $40\%,$ the next expected dividend is $$0\mathrm{.}65$ a share, the dividend is expected to grow at a constant rate of $6\mathrm{.}00\%$ a year, the price of the stock is $$17\mathrm{.}00$ per share, the flotation cost for selling new shares is F $=10\%,$ and the target capital structure is $45\%$ debt and $55\%$ common equity. What is the firm's WACC, assuming it must issue new stock to finance its capital budget?

Please provide each step and why, and how to get to the next step