Wayne Industries currently has 50,000 of its 5% semi-annual coupon bonds outstanding (par value = 1000)

Wayne Industries currently has 50,000 of its 5% semi-annual coupon bonds outstanding (par value = 1000). The bonds will mature in 19 years and are currently priced at $1,120 per bond. The firm also has an issue of 1.5 million preferred shares outstanding with a market price of $30.00. The preferred shares offer an annual dividend of $2.40. Wayne Industries also has 4.5 million shares of common stock outstanding with a price of $17.50 per share. The firm is expected to pay a $1.20 common dividend 1 year from today, and that dividend is expected to increase by 5% per year forever. The firm typically pays floatation costs of 2% of the price on all newly issued securities. If the firm is subject to a 35% marginal tax rate, then what is the firm's weighted average cost of capital? I