6. Weir Enterprises Balance Sheet is listed below. The preferred stock currently sells for $15 per share and pays a $1.50 dividend. There are one million common shares outstanding and the stock sells for $30 per share. The common stock has a beta of 1.3, the expected return on the market is 12 percent and the risk-free rate is 4 percent. The bonds pay an 8 percent coupon annually. The bonds have 10 years (Face Value of $1,000) left to maturity and are currently priced at $935.82. The firm's tax rate is 40%. Calculate WACC. Assets Liabilities and SE Bonds Payable 10,000,000 Cash Accounts Receivable Inventory 1,000,000 3,000,000 7,000,000 Preferred Stock ($20 par value) 2,000,000 Fixed Assets 21,000,000 Common Stock ($0.10 par value) Additional Paid-In Capital Retained Earnings 100,000 9,900,000 10,000,000 Total Assets 32,000,000 Total Liabilites and SE 32,000,000