Saban Corporations 20 year bonds have 7.5 years left to maturity. They pay a coupon rate of 9% and are currently trading for $925.00/bond. Saban's preferred stock pays annual dividend of $2.25 and is priced at $20. Saban Corps beta is 1.35, the common stock just paid annual dividend of $2.00, is priced at $25.00, and Sabans growth rate is 7.7%. Debt amounts to 37% and common stock amounts to 43% of the total capital structure. The tax rate is 32%. What is Sabans WACC?