Suppose Simmons' common stock has a beta of 1.37, the risk-free rate is 3.4 percent, and the market risk premium is 8.2 percent. The yield to maturity on the firm's bonds is 7.6 percent and the debt-equity ratio is .45. What is the WACC if the tax rate is 23 percent and all interest is tax deductible?

a.) 14.07 percent

b.) 10.94 percent

c.) 12.60 percent

d.) 10.59 percent

e.) 11.91 percent