1. Dashy-Paints Corporation has a target capital structure of 45% debt, 20% preferred stock, and 35% common stock. Its before-tax cost of debt is 8%, preferred stock cost is 9.5%, and its marginal tax rate is 40%. The current stock price is $22.00. The last dividend was at 2.25, and is expected to grow at a 5% constant rate. What is the firms WACC?

   		12.09%
   		11.32%
   		9.57%
   		11.01%
   		9.88%