Problem Solving: Given the following information, what is the WACC?

Commom Stock: Bonds: $1$ million shares outstanding, $$35$ per share,

$$1$ par value, beta $=1\mathrm{.}3$

$10,000$ bonds outstanding,

$$1,000$ face value each,

$8\%$ annual coupon,

$22$ years to maturity,

market price $=$$$1,101\mathrm{.}23$ per bond

Market risk Premium $=8\mathrm{.}7\%,$

risk$-$free rate $=5\%,$

marginal tax rate $=35\%$