Question: Judson Enterprises has a capital structure (based on market values) consisting of 40% debt, 10% preferred stock, and 50% common equity. Judson's long-long-term bonds have

Judson Enterprises has a capital structure (based on market values) consisting of 40% debt, 10% preferred stock, and 50% common equity. Judson's long-long-term bonds have a before-tax YTM of 9%, its cost of preferred stock is 7.9%, and its cost of retained earnings is 12.5%. If Judson's tax rate is 40%, what is its WACC

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