Please solve it without using excel and show the steps

VODA For questions requiring a numerical answer be careful when rounding. Unless otherwise instructed by decimal places without the $ sign (1000.99) and answers to two decimal places without the sign 129.99 0.2999). Question 32 6 pts Lipscomb Corporation is estimating its WACC. Its target capital structure is 20 percent debt, 20 percent preferred stock, and 60 percent common equity. Its bonds have a 12 percent coupon, paid semiannually, a current maturity of 20 years, and sell for 1,000 USD. The firm could sell, at par, 100 USD preferred stock which pays a 12 percent annual dividend, but flotation costs of 5 percent would be incurred. Lipscomb is a constant-growth firm that just paid a dividend of $2.00, sells for 27.00 USD per share, and has a growth rate of 8 percent. The firm's marginal tax rate is 40 percent. What is the WACC? Nad