Question 8 (10 points) Listen Recent financial information for Dolly's Group show that the company has 65 million shares of common stock outstanding. The maravet price of the common stock is $14 per share . Dolly's also has entending preferred stock that has market value of $10 million. 25,000 bonds are also outstanding. The face value of the bonds is $1,000 and currently selling at 90% of par value. The cost of equiry is 14%, the cost of premed is 10%, and the cost of debt is 7.25%. The tax rate is 34% Calculate the WACC for Dolly : SHOW THE FORMULA USED AND DETAILED CALCULATIONS