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Thorpe and Company is currently an all$-$equity firm. It has $3$ million shares selling for $$28$ per share. Its beta is $0\mathrm{.}85,$ and the current risk$-$free rate is $2\mathrm{.}5\%.$ The expected return on the market for the coming year is $13\%.$ Thorpe will sell corporate bonds for $$28,000,000$ and retire common stock with the proceeds. The bonds are twenty$-$year semiannual bonds with a $10\%$ coupon rate and $$1,000$ par value. The bonds are currently selling for $$1,143\mathrm{.}08$ per bond. When the bonds sell, the company's beta will increase to $0\mathrm{.}95.$ What was Thorpe and Company's WACC before the bond sale? Hint: The weight of equity before selling the bond is $100\%.$