The Basket Weavers Company has 100,000 bonds outstanding that are selling at par value. Their face value is $1,000 and they yield 7.5%. The company also has I million shares of preferred stock which pays 10.5% of dividends for 100$ of par. The preferred stocks sell for $56. The company has 5 million shares of common stocks whose current price is $38. This company's beta is 1.2. The U.S. Treasury bill yields 3%. The return on the market is 12%. The corporate tax rate is 34%. Calculate WACC