Question 2 (of 6) 10.00 points Tempest Manufacturing has 8 million shares of common stock outstanding. The current share price is $73, and the book value per share is $7. Tempest Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $85 million, a 7 percent coupon, and sells for 97 percent of par The second issue has a face value of $50 million, has an 8 percent coupon, and sells for 108 percent of par. The first issue matures in 21 years, the second in six years. Suppose the most recent dividend was $3.90 and the dividend growth rate is 6 percent. Assume that the overall cost of debt is the weighted average of that implied by the two outstanding debt issues. Assume the par value of each bond is $1,000. Both bonds make semiannual payments. The tax rate is 35 percent What is the company's WACC? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) WACC References eBook & Resources Worksheet Learning Objective 14-03 How Type here to search ace