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8) Johnson Industries finances its projects with 40% debt, 10% preferred stock, and 50% common stock. The company can issue bonds with a YTM of 8.4%. Its cost of preferred stock is 9%. The risk-free rate is 6.57%, market risk premium is 5%, and the company's beta is 1.3. The firm's marginal tax rate is 30%. The firm will use retained earnings for equity. Compute the WACC for Johnson Industries