macko Inc. has 10 million semiannual coupon bonds outstanding that mature in 20 years. Each bond has a par value of $1,000. The bonds annual coupon rate is 7% and yield to maturity (YTM) is 9%. macko has 100 million shares of common stock outstanding that trade at $50 per share have a beta of 1.4. The corporate tax rate is 20%, risk-free rate is 3%, and market risk premium is 8%. What is the firm's weighted average cost of capital (WACC)?