Dixie Inc. is financing its new product line with issuance of 6 million shares of 5 years 6% coupon bond with yield to maturity 4.5%, 15 million shares of preferred stock with dividend $3.6 and return of 9%, and 800 million shares of common equity at current price of $25 per share. If its common stock has beta 1.6 and long-term risk free rate is 2% and market risk premium is 6%. What is the Weighted Average Cost of Capital (WACC) given its tax rate is 20%? Ignore flotation costs.