Royal Bank capital structure consist of 20% debt, 30% PR Stock, and 50% equity. In Bangladesh, bank is subject to 32% tax rate. YTM on outstanding bond is 8%. PR Stock pays dividend of $10 and selling at $95. Common share dividend is $0 for next year. Current market price of common stock is $40. With beta of 1.3, expected return 14% and risk free 6%. What is the Bank's WACC? (Bank Management Course)