The BAT Inc. has 150000 bonds outstanding (nominal value per bond $1000) that are selling at a current market price of 90%. The bonds are yielding 7%. The company also has 1 million shares of preferred stock outstanding currently yielding 10%. Finally, BAT Inc has also 3 million shares of common stock outstanding. The preferred stock sells for $46 per share and the common stock sells for $35 per share. The expected return on the common stock is 17%. The corporate tax rate is 25%. What is BAT Inc.'s weighted average cost of capital? In addition, is your calculated WACC rather high or low ?