(Estimated time allowance: 21 minutes) The following data refers to the capital structure of a publicly traded company. Click here for a formatted shell excel file. Debt: 15 years ago, company issued a 20-year corporate bond with a yield to maturity (YTM) of 12.5% then. Currently these bonds have a yield to maturity of 12%; the bonds make semiannual payments. These bonds trade currently at 90% of par. The book value of the bond reported in the balance sheet is $80 million. Common stock: Shares of common are currently selling for $70 per share, have a par value of $10. Total book value for common stock reported in the balance sheet is $29 million. The stock has a beta of 1.50 Preferred stock. The company has 200,000 outstanding shares of 6.6% preferred stock with a par value of $100 per share. Each share of preferred stock is selling at $50 per share. Marker: The market risk premium is 10% and the U.S. T-bill rate is 2%. The tax rate is 20% What is the weighted average cost of capital (WACC) for the firm? For your answer, use percentage format and round to the ONE decimal. Do not enter % sign. If your final calculation results in 0 24576 then enter 24.6 if your final calculation results in 0.04233 then enter 4.2, if your final calculation results in 0.20 then enter 20.0