Johnny Cake Limited has 10 million shares of stock outstanding selling at $20 per share and an issue of $50 million in 5.12 percent, annual coupon bonds with a maturity of 13 years, selling at 93.5 percent of par ($1,000). If Johnny Cake's weighted average tax rate is 21 percent, its next dividend is expected to be $2.00 per share, and all future dividends are expected to grow at 5 percent per year, indefinitely, what is its WACC? a. 12.64 percent b. 13.27 percent c. 13.03 percent d. 14.06 percent