Sound & Vision Studios (SVS) has 5 million common shares outstanding which sell for $30 per share. SVS just paid a dividend $2.50 per share, and investors and analysts expect all future dividends to grow by 5% per year, indefinitely. The current risk-free rate is 2.50%, the expected return on the market is 10%, and the stock has a beta of 2.2. SVS also has 1 million shares of 7% preferred stock outstanding (par value of $100) selling for $35 per share and 200,000 30-year, 9% annual coupon bonds outstanding, currently selling for 115% of par. If SVS is in the 35% tax bracket, then what is the firms WACC