PLEASE SHOW HOW YOU ARRIVED AT ANSWER. THANK YOU

Ronco Corp. has a capital structure which consists of 60 % long-term debt and 40 % common equity. The company's CFO has the following information: The before-tax yield to maturity on the company's bonds is 8 percent. The company's common stock is expected to pay a $3.00 dividend at year end (D1 = $3.00), and the dividend is expected to grow at a constant rate of 7 % a year. The common stock currently sells for $60 a share. Assume the firm will be able to use retained earnings to fund the equity portion of its capital budget. The company's tax rate is 40 %. Please compute the company's WACC