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 yield to maturity in the firms annual bonds is 7.6 percent, and the debt-equity ratio is 0.50. What is the firms WACC if the tax rate is 34 percent?

11.43%

9.83%

12.29%

10.59%

11.12%