You are given the following information for Oracle Manufacturing. Assume the companys tax rate is 40 percent. Debt: $2M in Total Debt Financing with a YTM of 8%. Common stock: 500,000 shares outstanding, selling for $3 per share; the beta is 1.5, with a 12% market risk-premium and 3.00% risk-free rate. Preferred stock: 100,000 shares of preferred stock outstanding, currently selling for $50 per share, and an expected dividend of $5. What is the company's WACC?