The company has just approved their last balance sheet.

The total value of the assets is $100$ Million $.$

The company has an equity of $25$ Million $(25$ thousand shares with a par value of $1$ thousand $).$

The remaining part is financed by $150$ thousand bonds with a par value of $500.$

The bonds have a maturity of $5$ years, with annual coupon payments. The coupon rate is $5\%$ and the bonds are selling today at $104\%.$

The company shares are trading today at a price of $2050.$

The corporate tax rate is $25\%$ and the Risk free rate is $3\%,$ the market return is just $4\%.$

Calculate the WACC and explain in detail all the steps.