French Corporation has 500,000 shares of common stock that sells for $25 per share and has a beta of 1.5. Treasury Bills are yielding 4% and the market return is expected to be 12%. The company has 10,000 bonds outstanding with a $1,000 face value, a $1,100 market price, and YTM of 4.5%. There are also 100,000 shares of preferred stock that pays a $3 annual dividend and sells for $30 per share.

Ignoring taxes, what is the French Corporations WACC?

Assuming a 40% tax rate, what is the French Corporations WACC?