Skolits Corp. has a cost of equity of 11.3 percent and an aftertax cost of debt of 4.29 percent. The company's balance sheet lists long-term debt of $315,000 and equity of $575,000. The company's bonds sell for 95.7 percent of par and market-to-book ratio is 2.65 times. If the company's tax rate is 24 percent, what is the WACC?

8.82%

9.97%

10.78%

10.14%

9.40%