Upton Umbrellas has a cost of equity of 11.4 percent, the YTM on the company's bonds is 6 percent, and the tax rate is 21 percent. The company's bonds sell for 102.9 percent of par. The debt has a book value of $402,000 and total assets have a book value of $950,000. If the market-to-book ratio is 2.68 times, what is the company's WACC