The PQR Corporation has $540 million in debt outstanding with a yield to maturity of 6.55%. The market capitalization for PQR is $1,818.3 million. PQR has no preferred stock outstanding and no plans to issue any in the future. The current beta for PQR's common stock is 1.2. If the historical risk-free rate is 4.7% and the market return is expected to be 9.9% and the company is taxed at the 34% corporate rate, what is the WACC for PQR Corporation? Select one: a. Less than 8% b. Between 8% and 8.5% c. Between 8.5% and 9% d. Between 9% and 9.5% e. Greater than 9.5%