Caspian Sea Drinks' is financed with 69.00% equity and the remainder in debt. They have 11.00-year, semi-annual pay, 5.99% coupon bonds which sell for 98.55% of par. Their stock currently has a market value of $25.27 and Mr. Bensen believes the market estimates that dividends will grow at 3.21% forever. Next years dividend is projected to be $2.70. Assuming a marginal tax rate of 34.00%, what is their WACC (weighted average cost of capital)?

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