Mycroft Ltd. currently has debt with market value of $200 million outstanding. The debt consists of 9 percent coupon bonds (making semi-annual coupon payments) which have a maturity of 15 years, par value of $1,000 and are priced at $1,440.03 per bond. The firm also has an issue of 2 million preferred shares outstanding with a market price of $12.00. The preferred shares pay an annual dividend of $1.20. Mycroft also has 14 million shares of common stock outstanding with a price of $20.00 per share. The firm is expected to pay a $2.20 dividend one year from today to its common shareholders, and that dividend is expected to increase by 5 percent per year indefinitely. If Mycroft's marginal tax rate is 21 percent, what is the firm's WACC?