The firm's capital structure Debt - 30%, Preferred Stock - 5%, and Common Stock Equity = 65% Additionally, the firm's tax rate is 40 percent. Debt: The firm can sell a 20-year, $1,000 par value, 9 percent bond for $980. A flotation cost of 2 percent of the face (market) value would be required. Preferred Stock: The firm has determined it can ise preferred stock at S65 per share par value. The stock will pay an 8.00 annual dividend. The cost of issuing and selling the stock is $3 per share. Common Stock: The firm's common stock is currently selling for $40 per share. The dividend expected to be paid at the end of the year is 55.07 Ite dividend payments have been growing at a constant rate for the last five years. Five years ago, the dividend was $3.45. It is expected that to well, a new common stock imae must be underpriced at $1 per share and the firm must pay $1 per share in flotation costs, With the above information, please calculate the firm' WACC Post your answer to 1 decimal place a