Solve for WACC

This must be completed by hand, not in excel.

Step by Step Contractors has the following information: -A Beta of 1.5 -A current price of common stock of $45/share, with 2M shares outstanding -A preferred dividend of $10 with a current price of preferred stock of $100, and 100,000 shares outstanding -Two bond issues. The first has 42,000 outstanding bonds with 10 years to maturity, paying a 6.32% coupon, and a current price of $952.38 and the second 60,000 outstanding bonds with 5 years to maturity, paying a 6% coupon, and a yield to maturity of 6%. Par value is $1000 for both bonds. (please round market values to nearest 0.1M) -Step by Step's Tax Rate is 20% -The expected return on the market is 12% and the risk-free rate is 4% Step by Step Contractors has the following information: -A Beta of 1.5 -A current price of common stock of $45/share, with 2M shares outstanding -A preferred dividend of $10 with a current price of preferred stock of $100, and 100,000 shares outstanding -Two bond issues. The first has 42,000 outstanding bonds with 10 years to maturity, paying a 6.32% coupon, and a current price of $952.38 and the second 60,000 outstanding bonds with 5 years to maturity, paying a 6% coupon, and a yield to maturity of 6%. Par value is $1000 for both bonds. (please round market values to nearest 0.1M) -Step by Step's Tax Rate is 20% -The expected return on the market is 12% and the risk-free rate is 4%