Sungsam Corporation, a US-based conglomerate, is considering expanding its operations in India. As the groups chief financial officer, you are asked to estimate the firms weighted average cost of capital. Sungsam has 1 million shares of common stock outstanding with a market price of $12 per share. The firm's outstanding annual coupon bonds have ten years to maturity, a face value of $5 million ($1000 per bond), a coupon rate of 10% and are priced at $1,000. The risk-free rate is 7% and analysts' expected return for the market is 14%. Sungsams stock has a beta of 1.2 and the firm is in the 34% tax bracket. What is the firm's WACC? (16 marks)