Caspian Sea Drinks' is financed with 64.00% equity and the remainder in debt. They have 11.00-year, semi-annual pay, 5.25% coupon bonds which sell for 98.49% of par. Their stock currently has a market value of $25.38 and Mr. Bensen believes the market estimates that dividends will grow at 3.49% forever. Next years dividend is projected to be $2.50. Assuming a marginal tax rate of 21.00%, what is their WACC (weighted average cost of capital)?