Nevada Mining Co. has only long term debt of $1,600,000. This debt consist of long term bond which has a face value of $1,000, time to maturity of 40 years, and annual coupon rate of 0.13. These bond is currently traded in the market at a price of $1,505. Regarding the equity, the current stock price is $19 and the firm has 130,000 shares outstanding. Nevada Mining Co. is planning to distribute $2 dividend per share and these dividends are expected to grow 0.06 each year. Tax rate of Nevada Mining Co. is 0.40. Calculate its WACC. Show your steps. (50 MARKS)