Suppose the Simmons Inc. 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 firm's cost of debt is 7.6 percent, and the debt-equity ratio is 0.50. What is the firm's WACC if the tax rate is 34 percent?

11.12%

11.43%

12.29%

9.83%

10.59%