Assume that ZYZ Inc. plan to invest a total of $4000000 to fund a project using two sources of financing: Common equity in the amount of $3000000 20-year bonds in the amount of $1000000 If the XYZ Inc.'s cost of equity is 12 percent, cost of debt is 3 percent and the tax rate is 23 percent, what is an estimate of this firm's WACC? ?

Group of answer choices

4.78875 %

6.22538 %

11.9719 %

14.3663 %

9.5775 %