Blackstone Inc. expected to have free cash flow in the coming year of $20 million, and this free cash flow is expected to grow at a rate of 5% per year thereafter. Blackstone Inc. has an equity cost of capital of 15%, a debt cost of capital of 7%, and it is in the 21% corporate tax bracket. If Blackstone Inc. maintains a .5 debt to equity ratio, then Blackstone Inc.'s pre-tax WACC is closest to:

Select one:

A. 10.55%

B. 11.33%

C. 12.33%

D. 10.67%