Scott's company has 1 million shares of stock outstanding. The stock currently sells for $10 per share. It issued 10,000 10-year bonds 3 years ago (Note the "10,000" is number of bonds, not the total value). Each bond has a coupon rate of 8% and pays coupon semiannually. The most recent price was quoted at 98:12. Also, the company has a preferred stock that is worth 5 million with an annual dividend of $0.70 and a price of $10. The risk-free rate is 8 percent, and the market risk premium is 7 percent. You've estimated that Scott's company has a beta of 1.2. If the corporate tax rate is 34 percent, what is the WACC of Scott's company?