The common stock of Plank Communications 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 on the firm's bonds is 76 percent and the debt-equity ratio is 45. What is the WACC if the tax rate is 23 percent and all interest is tax deductible?

Multiple Choice

14.07%

10.59%

12.60%

10.94%