could you also include how you do it step by step? i am very confused

Welch Inc. is expected to pay a $3.00 dividend at year end (D1 = $3.00), the dividend is expected to grow at a constant rate of 8.00% a year, and the common stock currently sells for $60 a share. The before-tax cost of debt is 8.00%, and the tax rate is 40%. The target capital structure consists of 70.00% debt and 30.00% common equity. What is the company's WACC if all equity is from retained earnings