We have some information from the book-value balance sheet of Myers Co. Short term debt (interest rate is 10%) $6 million $20 million Bonds (coupon rate is 9% and paid semiannually, maturity is 5 years, the current YTM is 10%, par value is $1,000 per bond) Long term debt (interest rate is 9%) Preferred stock (par value = $10 per share) Common stock (par value = $1 per share) $5 million $4 million $1.5 million Additional paid-in surplus $12 million Retained earnings $7 million The preferred stock currently sells for $25 per share and pays a dividend of $3 a share. The common stock just paid an annual dividend of $2 per share and dividends are expected to grow at a rate of 3% per year indefinitely. The common stock has a beta 1.9. The market return is 15%, the Treasury bill rate is 4%, and the corporate tax rate is 30%. Calculate WACC of the company