Caspian Sea Drinks' is financed with 65.00% equity and the remainder in debt. They have 12.00-year, semi-annual pay, 5.90% coupon bonds which sell for 97.65% of par. Their stock currently has a market value of $25.90 and Mr. Bensen believes the market estimates that dividends will grow at 3.47% forever. Next year's dividend is projected to be $2.11. Assuming a marginal tax rate of 35.00%, what is their WACC (weighted average cost of capital)?