Magnolia Hotel has a debt-equity ratio of .48 (meaning for every $0.48 of debt it has $1.0 in equity), a cost of equity of 16.4 percent, and a pretax cost of debt is 8.2 percent. Assuming a corporate tax rate of 34 percent, what is the company's WACC? 13.20 percent 11.28 percent 12.84 percent 12.91 percent 11.72 percent