Calculate the WACC based on the information below:
-Yield of 10year government bond is 5%
-Current market value of equity is $200million with a beta of 1.2
-Total debt outstanding in book value is $60 million
-Cash available on hand is $10 million
-Cost of debt to issue corporate bond is 6%
-The tax rate is 30%
-Annual interest expense $250
-Common shares outstanding: 1000