Willey Co. wants to calculate its WACC with the following information:

-The companys long-term bonds currently offer a yield to maturity of 8%

-The companys stock price is $32 per share (P0 = $32), paying $2 per share dividend recently (D₀ = $2.00)

-The company is expected to grow at a constant rate of 6% a year (g = 6%)

-The company pays 10% floatation cost whenever it issues new common stock (F = 10%)

-The companys target capital structure s 75% equity and 25 percent debt; tax rate = 40%

-The company anticipates issuing new common stock during the upcoming years.

What is the companys WACC?