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Dani Corporation has 7 million shares of common stock outstanding . The current share price is $ 8 3 , and the book value per

Dani Corporation has 7 million shares of common stock outstanding . The current share price is $83, and the book value per share is $8. The company also has two bond issues outstanding . The first bond issue has a face value of $140 million , a coupon rate of 6 percent , and sells for 94 percent of par The second issue has a face value of $125 million , a coupon rate of 5 percent , and sells for 105 percent of par The first issue matures in 25 years , the second in 8 years . Suppose the most recent dividend was $4.95 and the dividend growth rate is 4.9 percent . Assume that the overall cost of debt is the weighted average of that implied by the two outstanding debt issues . The tax rate is 24 percent . What is the company's WACC ?

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