The following information relates to TUT Corporation (TUT): The risk free rate is 5% p.a. TUT has 13 million ordinary shares outstanding that are currently priced at $13 each. TUT has 1,300,000 preference shares trading at $9 each. TUT's beta is 1.1. TUT's bonds have a total market value of $48,000,000, and the coupon rate is 7% p.a. %. The required return on ordinary equity is 11% per annum. The Face Value of the preference shares is $8 each and the dividend rate is 8% per annum. The current yield to maturity is 6.5% per annum. The company tax rate is 30%. What is TUT Corporation's WACC? [Where applicable, show as much working out as possible, otherwise, you may be penalised]