Quintero Corporation estimates that it can issue debt at a rate of r _d = 11%, and its tax rate is 30 percent. It can issue preferred stock that pays a constant $3.00 dividend per year at a price of $24 per share. Also, its common stock currently sells for $55 per share, the next expected dividend (D ₁) is $2.75, and the dividend is expected to grow at a constant rate of 9 percent per year. The target capital structure consists of 50 percent common stock, 45 percent debt, and 5 percent preferred stock. What is Quinteros WACC?

	a.	12.58%
	b.	11.09%
	c.	8.80%
	d.	11.32%
	e.	6.59%