The following information is given about your company.The company needs raise new capital to expand its facilities.The companys optimum capital structure has been45%debt,10%preferred stock and45%equity.The company will maintain this capital structure in financing this expansion plan.Currently the company's common stock is traded at a price of$20per share.The last dividend paid on the common stock was$1.50per share.The constant growth rate is8%.The company's preferred stock is selling at$50and has a quarterly preferred dividend of$1.5.Flotation costs have been estimated at8%on the common stocks and3%on the preferred stocks.The company has some bonds with$1000par value outstanding,the market price of the bonds is$975,and the bonds have9years to maturity.The coupon rate on those bonds is8%with semi-annual payments.The tax rate is46%.

What is theWACCof thiscompany?