Assume that you have been hired as a consultant by CGT, a major producer of chemicals and plastics, including plastic grocery some other information are provided below. Assets Current assets $ 38,000,000 101,000,000 Net plant, property, and equipment $139,000,000 Total assets Liabilities and Equity Accounts payable $ 10,000,000 Accruals 9,000,000 Current liabilities $ 19,000,000 Long-term debt (40,000 bonds, $1,000 par value) Total liabilities Common stock (10,000,000 shares) Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 4 0,000,000 $ 59,000,000 30,000,000 50,000,000 80,000,000 5139,000,000 Market value of CGT's stock - $15.25 per share CGT has 51,000 par value 20-year 7.25% coupon bonds with semiannual payments, selling for $875.00. CGT's stock beta-1.25 6-month Treasury bill yield =3.50% 20-year Treasury bond yield -5.50%. Required return on S&P 500-11.50% The firm's tax rate is 40%. Assuming CGT's cost of equity is 13 percent, the best estimate of the firm's WACC is closest to 10.85% 11.19% 11.53% 11.88%