Rahaf Capitals Ltd has outstanding bonds with a YTM of 11.25%. They are in the 20% tax bracket. They wish to maintain a capital structure of 35% debt, 10% preferred stock and 55% common equity. Rahaf can sell preferred shares for $110 that will pay an annual dividend of $12. Common shares currently sell for $35 and recently paid a per share dividend of $1.20. This dividend is expected to grow at a constant 8%. What is the WACC