b) Jake's Sound Systems has 210,000 shares of common stock outstanding at a market price $36 a share. Jake's just paid an annual dividend in the amount of $1.593 per share. The dividend growth rate is 4%. Jake's also has 6,000 bonds outstanding with a face value of $1,000 per bond. The bonds have a 7% coupon rate, pay interest semi- annually, and mature in 5 years. The bonds are selling at 99% of face value. The company's tax rate is 34%. What is Jake's weighted average cost of capital? (15 points)