Time Warner shares have a market capitalization of $80 billion. The company is expected to pay a dividend of $0.35 per share and each share trades for $20. The growth rate in dividends is expected to be 8% per year. Also, Time Warner has $20 billion of debt that trades with a yield to maturity of 8%. If the firm's tax rate is 40%, compute the WACC? O A. 7.45% OB. 8.32% O c. 7.88% OD 8.76%