Given the following information what is the WACC? Common stock: 1 million shares outstanding, $40 per share, $1 par value, beta = 1.3. Bonds: 10000 bonds outstanding, $1,000 face value each, 8% annual coupons paid semi-annually, 22 years to maturity,

market price = $1,101.23 per bond.

Preferred stock 50,000 shares, $7 coupon payment, market price= $108

Market risk premium = 8.6%, risk-free rate = 4.5%, marginal tax rate =34%