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Given the following information for Delta Corporation, find the Weighted Average Cost of Capital (WACC). Assume the company's tax rate is 21%. Debt: 12,000 8.0

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Given the following information for Delta Corporation, find the Weighted Average Cost of Capital (WACC). Assume the company's tax rate is 21%. Debt: 12,000 8.0 percent coupon bonds outstanding, $1,000 par value, 14 years to maturity , selling for 118.764 percent of par, the bonds make semiannual payments. Common Stock: 600,000 shares outstanding, selling for $60 per share, the beta is 1.6. Preferred Stock: 30,000 shares of 4.43 percent preferred stock outstanding currently selling for $72 per share. 8 percent market risk premium and 3 percent risk-free rate. Market

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