Classic Consultants has 1 million shares of common stock currently trading at $30 per share. Current risk free rate is 4%, market risk premium is 8% and the company has a beta of 1.2. It also has 50,000 bonds of $1,000 par paying 10% coupon annually maturing in 20 years currently trading at $950. The tax rate is 30%. Determine the weighted average cost of capital