The value of stock index at the end of 1970 was 2; at the end of 2019 it was 32. Long-term risk-free rate is 3.03%. Current interest rates on the bonds with the same risk as the bonds of this firm is 6.9%. The firm has 1,000 shares; share price is $10; beta is 1.24; tax rate is 20%. Estimate the weighted average cost of capital.