In the previous problem, suppose the companys stock has a beta of 1.15. The risk-free rate is 3.7 percent, and the market risk premium is 7 percent. Assume that the overall cost of debt is the weighted average implied by the two outstanding debt issues. Both bonds make semiannual payments. The tax rate is 35 percent. What is the companys WACC?

Please give me the answer without using excel. I want to understand step by step process. With the pen paper type of calculation.

Thank you