A company Finances its operations with 40 percent debt and 60 percent equity. Its net income is I = $16 million and it has a dividend payout ratio of x = 25%. Its capital budget is = $15 million this year. The annual yield on the company debt is rd = 10% and the company tax rate is T = 30%. The company common stock trades at P0 = $55 per share, and its current dividend of D0 = $5 per share is expected to grow at a constant rate of g = 10% a year. The Flotation cost of external equity, if it is issued, is F = 5% of the dollar amount issued. What is the company WACC?