Dinklage Corp. has $9$ million shares of common stock outstanding. The current share price is $$88,$ and the book value per share is $$7.$

The company also has two bond issues outstanding. The first bond issue has a face value of $$80$ million, a yield to maturity of $5\mathrm{.}16$ percent, and sells for $98$ percent of par. The second issue has a face value of $$55$ million, a yield to maturity of $5\mathrm{.}08$ percent, and sells for $106$ percent of par. The first issue matures in $20$ years, the second in $8$ years.

Suppose the most recent annual dividend was $$6\mathrm{.}00$ and the annual dividend growth rate is $8$ percent. The tax rate is $38$ percent. Calculate the company's WACC.

Start by calculating the firm's market value.

$($Enter your answer as a dollar amount, not millions of dollars, i$.$e$.$ enter one million as $1,000,000)$

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 $\%$