Question 11 8 pts The Estes Corporation has a capital structure that consists of 50,000 bonds and 1 million shares of common stock. Their stock sells at $100 per share. The company's annual coupon bonds have 12 years to maturity, an 8 percent annual coupon, a face value of $1,000, and a current price of $963.28. The risk free rate is 4 percent and the market risk premium is 5 percent. The company's common stock has a beta of 1.2. Estes' marginal takrate is 21 percent. What is the company's weighted average cost of capital (WACC)? (Express your answer as a decimal accurate to four decimal places). The after-tax cost of debt is 8.5%. The equity cost of capital is 10%. The after-tax weighted average cost of capital is 8.9%. The proportion of debt in the capital structure is 32.51%