U.S. based Peters Audio Shop has a cost of debt of 8% and a beta of 1.5. The U.S. Treasury bill is yielding 3% and the market risk premium is 6%.The firm has 100,000 shares of common stock outstanding at a market price of $20 a share. The bond issue has a total market value of $500,000. The tax rate is 21%. What is the weighted average cost of capital for Peters Audio Shop? (Hint: Use CAPM to find cost of equity)