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Caspian Sea Drinks' is financed with 67 00% equity and the remainder in debt. They have 10.00-year, sem-annual pay 6.74% coupon bonds which sell for

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Caspian Sea Drinks' is financed with 67 00% equity and the remainder in debt. They have 10.00-year, sem-annual pay 6.74% coupon bonds which sell for 97.52% of par. Their stock currently has a market value of $25.92 and Mc Bensen believes the market estimates that dividends will grow at 3.19% forever Next year's dividend is projected to be $2.78 Assuming a marginal tax rate of 27.00%, what is their WACC (weighted average cost of capital? Submit Answer format: Percentage bound to 2 decimal places (Example: 9.24%, % sign required wil accept decimal format rounded to 4 decimal places (ex 0 09243)

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