You are provided with the following information about XYZ Corp. There are 1 million common shares outstanding with a beta of 2.0, a par value of $1, and a market price of $43.00 /share. There are 10,000 bonds outstanding that mature in 22 years and have an 7.00% coupon rate (payable annually). Today the bonds sell at a 10.90% premium to their face value of $1,000. The market risk premium is 5.50%, T-bills return 4.00% and the corporate tax rate is 34%. Based on the above, what is the weighted average cost of capital (WACC)?