A company has 8 million common shares outstanding priced at $14.625 each
Next year's dividend on these shares is expected to be $2.71, and will grow at 5% per year forever
The company also has 60,000 bonds outstanding, each with a coupon rate of 12% and are priced at $1,050 each to yield 8% to bondholders
The corporate income tax rate is 34%.
Compute the WACC for the company.