QUESTION 40 The current stock price for a company is $45 per share, and there are 3 million shares outstanding. The beta for this firms stock is 1.2, the risk-free rate is 4.4, and the expected market risk premium is 5.6%. This firm also has 90,000 bonds outstanding, which pay interest semiannually. These bonds have a coupon interest rate of 8%, 8 years to maturity, a face value of $1,000, and a current price of 990.82. If the corporate tax rate is 36%, what is the weighted Average Cost of Capital (WACC) for this firm? (Answer to the nearest hundredth of a percent, but do not use a percent sign)