Aberdeen Company has the following capital structure.
Bonds with face amount $40 million, coupon 7%, selling at par,
Bonds with face value $60 million, coupon 6%, 10 years to maturity, selling at 92,
6 million shares of stock, priced at $50 per share, with β = 1.25.
The risk-free rate is 5% and the expected return on the market is 12%. The tax rate of Aberdeen is 32%. Find the WACC of Aberdeen.