Suppose the electric car maker Nio's balance sheet looks like the following: Balance Sheet NIO Inc. on December 31st, 2121 Cash $153,412 Accounts payable $73,778 Accounts receivable $249,272 Long-term bond $207,238 Intellectual properties $442,968 Property & Equipment $101,162 Common stock $665,798 Total Assets $946,814 Total Lib & Equity $946,814 If Nio's management estimates that the market requires a 8% return on its common stock, the firm's bonds command a yield to maturity of 3%, and the firm faces a tax rate of 12%, then what is company's weighted average cost of capital?