When estimating step by step Weighted Average Cost of Capital for a corporation, we know the following information about their outstanding public securities: 1. 600 semiannual bonds outstanding, 7 years to maturity, Coupon 8%, Face value $1000, current market Price $452 2. 1,300 common shares trading currently at $30 /share, 0.75, Risk Free 4%, Market Return 10%, Tax Rate 35% What is the Cost of Equity? Make sure to indicate steps and submit photo once test is submitted. 7% 12% 8.5% 10%