Financial analysts expect a per$-$share dividend $($total of four quarterly payments$)$ of $$3\mathrm{.}80$ to be paid to Randolph Ranch & Range Equipment Company's common stockholders in the coming year, and expect the dividend stream to increase by approximately $5\mathrm{.}5\%$ steadily per year thereafter into the distant future. The company's common stock can currently be purchased for $$93\mathrm{.}75$ per share. Randolph obtains all of its money for capital investment projects from lenders $(32\%)$ and common stockholders $(68\%)$; it has never issued preferred stock and is not expected to in the future. If they do maintain this capital structure, Randolph's managers expect to be able to borrow money at a $7\mathrm{.}75\%$ annual interest rate. Randolph pays income tax each year at a $24\%$ marginal $($combined state$-$plus$-$federal$)$ rate.

Compute the company's weighted average cost of capital $($WACC$,$ or KA$).$