Melon Corporation has 4 million ordinary shares outstanding that are currently priced at $8.50 each and have a beta of 1.4. The required return on ordinary equity is 9.5% per annum. The company has 500,000 preference shares trading at $6.50 each. The Face Value of the preference shares is $5 each and the dividend rate is 6% per annum. The company's bonds have a total market value of $6,500,000, they have a coupon rate of 4% p.a. and current yield to maturity is 2.5% per annum. The risk-free rate is 2% p.a. and the company tax rate is 30%.

What is Melon Corporations WACC