Dons Manufacturing, has 7,151,553 shares of common stock outstanding. The current share price is 36.93 and the book value per share is 6.70. Dons Manufacturing has two bonds shares outstanding. The first bond issue has a face value of 61,835,433, has .05 coupon, matures in 10 years, and sells for 83% of par. The second issue has a face value of 61804388, has a .06 coupon, matures in 20 years, and sells for 92% of par.

The most recent dividend was 2.11 and the dividend growth rate is 0.07. Assume that the overall cost of debt is the weighted average of that implied by the two outstanding debt issues. both bonds make semi-annual payments, the tax rate is 0.38.

What is Dons Manufacturing WACC? Answer with 4 decimals