I.XYZ Corporation has 45,000 ordinary shares outstanding which are currently selling for $110 per share. The number of preference shares outstanding is 30,000 and the book value of a share is $100 while the market value is $105.The company has issued 2,500 bonds with a face value of $1000. The market value of the bond is higher than the face value and it is $1,100. The required rate of return of ordinary shareholders, preference shareholders and bond holders are 10%, 12% and 15% respectively.

The Company is subject to 30% corporate tax.

Based on the market value, calculate the Weighted Average Cost of Capital (WACC) of the company using the classical tax system.