Martin Industries (MI) has 5 million common shares outstanding which sell for $45 per share. MI just paid a dividend $4 per share, and investors and analysts expect all future dividends to grow by 5% per year, indefinitely. The current risk-free rate is 2.5%, the expected return on the market is 8%, and the stock has a beta of 1.6. MI also has 2 million shares of 11% preferred stock outstanding (par value of $100) selling for $40 per share. In addition, Mi has 250,000 20-year, 12% annual coupon bonds outstanding, currently selling for 110% of par. If MI is in the 35% tax bracket, then what is the firm's WACC? Enter WEIGHTS (w's) decimals with 4 places, 0.1025 for 10.25%; Enter COSTS (r's) and WACC as percents with 2 decimals, e.g. 10.25 for 10.25%