Burns Power has bonds outstanding with a par value of $$100$ million that sell at $70\%$ of par with a yield to maturity of $10\%.$ They also have $300,000$ shares of preferred stock outstanding selling for $$45$ per share and paying a $$6\mathrm{.}75$ annual dividend. In addition, $1$ million shares of common stock are outstanding and currently sell for $$60$ per share. The current dividend $($D$0)$on Burns Power common stock is $$3$ and it is expected to grow at a constant rate of $6\%.$ What is Burns Power$$s WACC if their tax rate is $40\%?($Choose the closest answer$)$

Burns Power has bonds outstanding with a par value of $$100$ million that sell at $70\%$ of par with a yield to maturity of $10\%.$ They also have $300,000$ shares of preferred stock outstanding selling for $$45$ per share and paying a $$6\mathrm{.}75$ annual dividend. In addition, $1$ million shares of common stock are outstanding and currently sell for $$60$ per share. The current dividend $($D$0)$on Burns Power common stock is $$3$ and it is expected to grow at a constant rate of $6\%.$ What is Burns Power$$s WACC if their tax rate is $40\%?($Choose the closest answer$)$

$9\mathrm{.}06\%$

$8\mathrm{.}19\%$

$10\mathrm{.}13\%$

$9\mathrm{.}77\%$

$8\mathrm{.}75\%$