***** show all steps in calculations, including financial calculator inputs. Set calculators to 4 decimal places

Conversation Video Corporation (CVC) has a target capital structure of 55 percent common stock, 10 percent preferred stock, and 35 percent debt. Its cost of equity is 10 percent, the cost of preferred stock is 5 percent, and the pretax cost of debt is 7 percent. The relevant tax rate is 35 percent. What is the companys WACC? Remember to show all work for each step from setting up formulas to final result. a. 4.55% b. 7.59% c. 9.91% d. 13.6%