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Dashy-Paints Corporation has a target capital structure of 60% debt, 15% preferred stock, and 25% common stock. Its before-tax cost of debt is 8.5%, preferred

Dashy-Paints Corporation has a target capital structure of 60% debt, 15% preferred stock, and 25% common stock. Its before-tax cost of debt is 8.5%, preferred stock cost is 10.2%, and its marginal tax rate is 30%. The current stock price is $22.00. The last dividend was at 3.25, and is expected to grow at a 5% constant rate. What is the firms WACC?

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