Verizon has a market value based capital structure of 32% debt and 68% common equity financing. Verizon has 30 -year semi-annual coupon bonds outstanding selling at 112% of their $1000 par value with an annual coupon rate of 6.2% Verizon's beta is 0.70 according to ValueLine. The 10-year T-bond rate is 2.8% and investors demand an 11.2% market return. The company's marginal tax rate is 40%. What is Verizon's WACC based on this information? 7.4% 7.9% 9.2% 8.7% 7.1%