C Corp. has 7.3 million shares of common stock outstanding. The current share price is $22, and the book value per share is $1.5. The company also has two bond issues outstanding. The first bond issue matures in 12 years, has a face value of $60 million and a coupon rate of 7 percent, and sells for 107 percent of par. The second issue is perpetual debt, has a face value of $50 million and a coupon rate of 5 percent, and sells for 76.92 percent of par. Both bonds make semiannual payments. Suppose the company’s stock has a beta of 1.3. The risk-free rate is 1.4 percent, and the market risk premium is 7 percent. Assume that the cost of debt is just the same as the promised yield. The tax rate is 35 percent. What is the company’s WACC?