Find AT&Ts WACC given the following:

• MV of common stock, preferred stock, and debt were $234,560mm, $2,185mm and $176,505mm respectively

• BV of common stock, preferred stock and debt were $200,000mm, $2,525, and $220,000mm respectively

• AT&T preferred stock has a price of $25.43 and an annual dividend of $1.37

• Tax rate of 25%

• Pretax cost of debt is 3.18%

• Equity beta of AT&T is 0.6

• Yield on 10-year treasury note is 3%

• The market risk premium is 6%