The board of directors of CRB Ltd. wants you to estimate the company's cost of capital. The following information is available. Beta of equity = 1.4 Yield to maturity of Commonwealth government bonds = 5% Market risk premium = 7% Yield to maturity on company's long-term debt-7% Book value of equity - $360 million Market value of equity = $720 million Long-term debt outstanding - $720 million Corporate tax rate=30% What is the company's WACC? Multiple Choice 8.50% 9.21% 9.85% None of the options are correct