In the previous problem, suppose the company's stock has a beta of 1.15. The risk-free rate is 3.7%, and the market risk premium is 7%. Assume the overall cost of debt is the weighted average implied by the two outstanding debt issues. Both bonds make semiannual payments. The tax rate is 35%. What is the company's WACC? Additional information: 8.3 million shares of common stock outstanding, Current share price = $53 , and the book value per share is $4. The company also has two bond issues outstanding. The first bond issue has a face value of $70 million and a coupon rate of 7% and sells for 108.3% of par. The first issue matures in 8 years, the second in 27 years.