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SIROM Scientific Solutions has $5 million of outstanding equity and $5 million of bank debt. The bank debt costs 5% per year. The estimated equity beta is 2. If the market risk premium is 8% and the risk-free rate is 4%, compute the weighted average cost of capital if the firm's tax rate is 25%. A. 13.66% B. 12.47% C. 11.88% D. 13.06% Time Warner shares have a market capitalization of $60 billion. The company is expected to pay a dividend of $0.45 per share and each share trades for $20. The growth rate in dividends is expected to be 8% per year. Also, Time Warner has $15 billion of debt that trades with a yield to maturity of 7%. If the firm's tax rate is 25%, compute the WACC? A. 7.86% B. 8.33% C. 8.79% D. 9.25%