Q36. Caspian Sea Drinks' is financed with 67.00% equity and the remainder in debt. They have 12.00-year, semi-annual pay, 5.13% coupon bonds which sell for 97.05% of par. Their stock currently has a market value of $25.88 and Mr. Bensen believes the market estimates that dividends will grow at 3.82% forever. Next years dividend is projected to be $2.46. Assuming a marginal tax rate of 34.00%, what is their WACC (weighted average cost of capital)?