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Please answer correctly. will rate!:) Johnny Cake Ltd. has 8 million shares of stock outstanding selling at $17 per share and an issue of $40

Please answer correctly. will rate!:) image text in transcribed
Johnny Cake Ltd. has 8 million shares of stock outstanding selling at $17 per share and an issue of $40 million in 10 percent annual coupon bonds with a maturity of 18 years, selling at 92.5 percent of par. Assume Johnny Cake's weighted-average tax rate is 21 percent, its next dividend is expected to be $3 per share, and all future dividends are expected to grow at 5 percent per year, indefinitely. What is its WACC? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

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