Stephen Corporation has 10 million shares of common stock outstanding, 500,000 shares of $6 dividend preferred stock outstanding, and 250,000 bonds outstanding. The common stock currently sells for $50 per share and has a beta of 1.05; the preferred stock currently sells for $75 per share; and the bonds have 12 years to maturity and sell for 95 percent of par. The coupon rate is 8% and the par value is $1,000. The coupons are paid semiannually. The company just paid a $5.00 dividend on its common stock, and these dividends are expected to grow at a constant 4%. The company's tax rate is 21 percent. What is the company's WACC? Please show your work. HTML Editor