The XYZ Corporation intends to finance new investments in a proportion of 50% debt, 10% preferred shares, and 40% equity.

The corporate tax rate is 40%

Debt with maturity of 12 years will be sold at face value with a coupon rate of 14%

Preferred shares will be sold at $99

The dividend yield on preferred shares will be 10%

New common shares may be sold at 82.5% of the current market price of $20

Dividend growth has been steady at 8% per year and it is expected to continue 

The dividend at the end of the current year is expected to be $2.25 per share

WHAT IS THE FIRMS WACC?