Johnny Cake Ltd$.$ has $12$ million shares of stock outstanding

selling at $$20$ per share and an issue of $$60$ million in $10$ percent

annual coupon bonds with a maturity of $18$ years, selling at $94\mathrm{.}0$

percent of par. Assume Johnny Cake$$s weighted$-$average tax rate is

$34$ percent, its next dividend is expected to be $$3$ per share, and

all future dividends are expected to grow at $5$ percent per year,

indefinitely.What is its WACC?$($Do not round intermediate

calculations and round your final$$answer to $2$ decimal

places.$)$

$$

B

C

D

E

F

G

$H$

Johnny Cake Ltd$.$ has $8$ million shares of stock outstanding selling at $$22$ per share and an issue of $$40$ million in $10$ percent annual coupon bonds with a maturity of $17$ years, selling at $94\mathrm{.}0$ percent of par. Assume Johnny Cake's weighted$-$average tax rate is $34$ percent, its next dividend is expected to be $$3$ per share, and all future dividends are expected to grow at $5$ percent per year, indefinitely.

What is its WACC? $($Do not round intermediate calculations and round your final answer to $2$ decimal places.$).$

$\backslash$table$[[$Shares outstanding,$8,000,000$