On January 1, the totalmarket value of the Tysseland Company was $60 million. During the year, the company plans to raise and invest $30 million in new projects. The firms present market value capital structure, shown below, is considered to be optimal. There is no short-term debt.

Debt $30,000,000

Common equity $30,000,000

Total capital $60,000,000

if the company need issue common stock to the public at current market price and the flotation cost is 10% of the issue's gross proceeds,what is its WACC?