Question: Please help, will thumbs up the correct answer. Thank you so much! Johnny Cake Ltd. has 10 million shares of stock outstanding selling at $20

 Please help, will thumbs up the correct answer. Thank you so

Please help, will thumbs up the correct answer. Thank you so much!

Johnny Cake Ltd. has 10 million shares of stock outstanding selling at $20 per share and an issue of $50 million in 8 percent, annual coupon bonds with a maturity of 13 years, selling at 93.5 percent of par ($1,000). If Johnny Cake's weighted average tax rate is 34 percent, its next dividend is expected to be $2.00 per share, and all future dividends are expected to grow at 5 percent per year, indefinitely, what is its WACC? (The answer format is already in percentage. For example, enter 3.50 for 3.50%. Round your answers to 2 decimal places)

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