Dinklage Corp. has $7$ million shares of common stock outstanding. The current share price is $$79,$ and the book value per share is $$6.$

The company also has two bond issues outstanding. The first bond issue has a face value of $$70$ million, a yield to maturity of $8\mathrm{.}60$ percent, and sells for $94$ percent of par. The second issue has a face value of $$40$ million, a yield to maturity of $7\mathrm{.}53$ percent, and sells for $107$ percent of par. The first issue matures in $23$ years, the second in $6$ years.

Suppose the most recent annual dividend was $$5\mathrm{.}10$ and the annual dividend growth rate is $9$ percent. The tax rate is $34$ percent. Calculate the company$$s WACC.

Start by calculating the firm's market value.

Firm's Market Value $($debt & equity$)$ $

Now calculate the firm's cost of equity and after$-$tax cost of debt.

$($Enter your answers as percent rounded to two decimals. Assume the YTMs are quoted as an EAR, not an APR.$)$

Cost of Equity

$\%$

After$-$tax Cost of Debt

$\%$

Now calculate the WACC.

$($Don$\text{'}$t round your intermediate steps and enter your answer as a percent rounded to two decimals.$)$

WACC

$\%$