Assume the risk free rate is 2.8%. Assume the market risk premium is 5.5% and a firm's beta compared to the market is 1.5. The firm has 1 million shares outstanding and a share price of $20/share. The firm has shareholder equity of $10 million and total assets of $30 million. You can assume long term debt is the firm's only liability. The firm's post-tax cost of debt is 4%. What is the firm's weighted average cost of capital using CAPM to compute cost of equity. (show as a decimal; so 1.23% should be written as 0.0123).