$.-$ Given the following information for Telefonica Co$.,$ find the WACC.

Assume the company's tax rate is $15$ percent.

Debt: $5,000$ bonds outstanding, $5$ percent coupon, $$1,000$ par value, $10$ years to maturity, selling for $105$ percent of par; the bonds make semiannual payments.

Common stock:

$185,000$ shares outstanding, selling for $$60$ per share; the beta is $1\mathrm{.}20.$

Market: $8$ percent market risk premium and $4$ percent risk$-$free rate.