Question: Johnson Industries finances its projects with 4 0 % debt, 1 0 % preferred stock, and 5 0 % common stock. 1 ) The company

Johnson Industries finances its projects with 40% debt, 10% preferred stock, and 50% common stock.
1) The company can issue bonds at a yield-to-maturity of 8.4%.
2) The cost of preferred stock is 9%.
3) The risk-free rate is 6.57%.
4) The market risk premium is 5%.
5) Johnson Industries' beta is equal to 1.3.
6) The company's tax rate is 30%.
What is the company's WACC? (Want an equation or may be Excel with an answer 9.79%)

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