Given the following information and with the assumption that the firm must issue new stock to finance its capital budget, calculate the firm's WACC. (Express your answer in decimal format with 4 decimal places i.e. 0.1234 and not as 12.34%) .

YTM on Outstanding Bonds 7.75%

Tax rate 40%

D1 (Next expected dividend per share) $0.65

g (constant rate per year) 6.00%

P0 (Stock Price) $15.00

F (Flotation Cost) 10.0%

Weight debt 45%

Weight equity 55%