Given the following information for ONAIR Co., find the WACC. Assume the company’s tax rate is 35 percent.

Debt	10,000, 5% semi-annual payment coupon bonds outstanding. $1,000 par value, 30 years to maturity. Selling for 98% of par value.
Common Stock	500,000 shares outstanding, selling for $70 per share, the beta is 1.2
Market	8% market risk premium and 4% risk-free rate