You would like to estimate the weighted average cost of capital for a new airline business. Based on its industry asset beta, you have already estimated an unleveraged cost of capital for the firm of 8%. However, the new business will be 29% debt-financed, and you anticipate its debt cost of capital will be 6%. If its corporate tax rate is 37%, what is your estimate of its WACC?

Better to use excel or formula. show all the parts.