SCTYQ issued 9,000 bonds 5 years ago with 30 years to maturity when they were issued. The coupon rate is 2.4% and coupons are paid annually. The current price of each bond is $568.81. In addition, there are 500,000 shares of common stock outstanding with a market price of $21 per share. SCTYQ's beta is .90 the risk-free rate is 2%. SCTYQ is expected to pay a dividend of $1.06, with a 6% growth rate Assume a tax rate of 40%. There are 50,000 preferred shares paying a dividend of $2.00. The current price per preferred share is $10. Calculate the WACC for SCTYQ.