Here is some information about church Inc.:

Beta of common stock = 0.5

Treasury bill rate = 2.94%

Market risk premium = 7.85%

Yield to maturity on long-term debt = 4.82%

Preferred stock price = $46

Preferred dividend = $3 per share

Book value of equity = $163 million

Market value of equity = $416 million

Long-term debt outstanding = $254 million

Shares of preferred stock outstanding = 3.0 million

Corporate tax rate = 21%

What is the companys WACC?