Johnny Cake Ltd. has 8 million shares of stock outstanding selling at $21 per share and an issue of $40 million in 9 percent annual coupon bonds with a maturity of 18 years, selling at 93.5 percent of par. Assume Johnny Cakes weighted-average tax rate is 21 percent, it cannot make use of interest tax shields for the foreseeable future, its next dividend is expected to be $3 per share, and all future dividends are expected to grow at 6 percent per year, indefinitely. What is its WACC?