Question 4 10 pts 4. Chesapeake Bay Company has 10 million shares of common stock outstanding with a price of $40 per share. There are 1 million shares of preferred stock outstanding with a price of $20 per share. The company also has debt outstanding with a market value of $80 million. The required return on common stock is 15.2%. The required return on preferred stock is 13.4% and the before-tax required return on debt is 10%. If the tax rate is 40%, what is Chesapeake Bay's WACC? a. 10.28% b. 10.92% c. 12.63% d. 12.91% e. 13.66%