FGH Co. has a current share price of $54 and a total of 14 million shares outstanding. The company currently has debt with a total face value of $995 million. These outstanding 20 year bonds are currently priced to yield 6.2% while quoting at 99.5% of total face value. The company will pay a dividend to common stock holders of $6.08 and anticipates growing the dividend at a constant rate of 4% per year indefinitely. If the corporate tax rate is 34%, what is the WACC of FGH Company (in percent)?

The answer is one of the options below:

10.25%

14.78%

16.25%

7.19%

8.93%