Assume that you have been hired as a consultant by Beard Corporation to estimate their weighted average cost of capital. Beard's stock is currently selling for $$15\mathrm{.}25$ per share, and its noncallable $$1,000$ par value, $15-$year, $7\mathrm{.}50\%$ bonds with semiannual payments are selling for $$875\mathrm{.}00.$ Their beta is $1\mathrm{.}3,$ the yield on a $10-$year Treasury bond is $5\mathrm{.}25\%.$ The market risk premium is $5\mathrm{.}6\%$ and their tax rate is $25\%.$ Finally, Beard's optimal capital structure is $30\%$ debt and $70\%$ equity.

What is Beard's WACC?

How could Beard lower their WACC? Provide $2$ things the company could do$.$