Common Stock information	Bond Information
Beta of 0.98 Market risk premium 7.6% Risk-free rate 3.9%	Par value $1,000 Current Price $1,016 Bond matures in 8 years Annual coupon interest payment $90

The market value of Johns stock represents 50% of the external financing, and bonds represent the other 50%. Johns tax rate is 0%, so after-tax cost of debt = before-tax cost of debt (therefore, no adjustment needed for tax).

Calculate Johns weighted average cost of capital.