Estimate Flyers Company's WACC based on the following information.
- Its stock beta is 1.50; and standard deviation of weekly stock returns based on the last year's data is 25%
- Risk free rate is 1.2%; the expected market return is 6.35%.
- Its total debt is 60 million, with an average cost of debt of 4.35%
- Its current stock price is $45.00, with 4 million shares outstanding, among which insiders hold about 10% of total shares outstanding.
- Its tax rate is 30%.