Caspian Sea Drinks' is financed with 70.00% equity and the remainder in debt. They have 12.00-year, semi-annual pay, 5.07% coupon bonds which sell for 98.78% of par. Their stock currently has a market value of $25.48 and Mr. Bensen believes the market estimates that dividends will grow at 3.56% forever. Next years dividend is projected to be $2.26. Assuming a marginal tax rate of 23.00%, what is their WACC (weighted average cost of capital)?