A corporation has two issues of bonds outstanding:
1. Time to maturity (years):10 Outstanding principal (million $):100 Coupon (%):5 YTM (%): 8
2. Time to maturity (years:):20 Outstanding principal (million $):300 Coupon (%):7 YTM (%):9
They also have 30 million shares of common stock outstanding. The stock is currently trading at $18 per share. The company’s beta is 1.3, the risk free rate 2%, and the market risk premium 7%. Their marginal corporate tax rate is 35%. Calculate the corporation's WACC.