You are the CFO of a company, and you need to analyze a new product line. The company has 10% coupon-bonds outstanding with $1000 face value that trade at par. Their stock, which trades at $50 on the NASDAQ has a beta of 1.25, plans to pay a dividend of $3.00 in one year, and the dividends are expected to grow at 5% annually, indefinitely. The company has a debt-to-equity ratio of 7 and pays taxes at the 35% annual tax rate. If the expected return on the market is 8% and treasury bills pay 4%, what is the weighted average cost of capital for FIN317 Corp? (assume no preferred stock)