Book World's management wants to determine its WACC. If the firm just became a business today and currently has $20 million of assets that are financed by $4,000,000 of preferred stock, $5,000,000 in bonds and $11,000,000 in equity. All securities were issued today and the firm's tax rate is 40%. The preferred stock will pay $1 annually and was sold for $17.50 with a flotoation cost of $1.50. The firm's bonds were sold for $1070 with flotoation cost of $25. The bonds are for 10 years and offer a coupn of 8.25%. The firm's stock was sold for $9 with a flotoation cost of 5%. The firm already announced its first dividend will be paid in one year and will be $0.75 and will grow annually at a growth rate of 5%. What is the firm's WACC?