Company X is considering changing its capital structure in light of the tough business environment. Currently, Company X's total capital consists of: $950 million in debt $20 million in leased assets $500 million of preferred stock $900 million in common stock $750 million in retained earnings The debt coupon is 8% and tax rate is 40%. while the current preferred share price is $96.20 and the dividend per share is $9. The companys common stock is trading at $25.50. its dividend payout this year is $1.15, and the growth rate of the dividend is 8.5%. Leases are at an average cost of 8%. Find the weighted average cost of capital given the data above. If Company X wants to change its capital structure (i.e.. lower its WACC), what should it do? Show your calculations in detail and explain your reasoning