To estimate the company's WACC, Marshall Inc. recently hired you as a consultant. You have obtained the following information.

$(1)$ The firm's noncallable bonds mature in $20$ years, have an $8\mathrm{.}00\%$ annual coupon, a par value of $$1,000,$ and a market price of $$1,050\mathrm{.}00.$

$(2)$ The company's tax rate is $40\%.$

$(3)$ The risk$-$free rate is $4\mathrm{.}50\%,$ the market risk premium is $5\mathrm{.}50\%,$ and the stock's beta is $1\mathrm{.}20.$

$(4)$ The target capital structure consists of $40\%$ debt and the balance $60\%$ is common equity. The firm uses the Capital Asset Pricing Model $($CAPM$)$ to estimate the cost of common stock, and it does not expect to issue any new shares. What is the Weighted Average Cost of Capital $($WACC$)?$