An analyst has collected the following information regarding Christopher Co.: The company’s capital structure is 30 percent debt and 70 percent equity. The company’s outstanding bond is currently traded at $891.81. It has 30 years to maturity, 8% coupon rate that pays semiannually, and face value of $1,000. The company’s year-end dividend is forecasted to be $0.80 a share (D1). The company expects that its dividend will grow at a constant rate of 9 percent a year. The company’s stock price is $25. The company’s tax rate is 40 percent. The company anticipates that it will need to raise new common stock this year, and total flotation costs will equal 10 percent of the amount issued. Assume the company use retained earnings, and does not take accounts for flotation costs. Given this information, calculate the company’s WACC.