Your first task is to estimate the Citigroup Inc. weighted average cost of capital (WACC) and you have been provided with the following most recent data: The firm's tax rate =20% The Citigroup Inc. has issued 6% coupon semi-annual payment non-callable bonds, with a maturity date of 17of May 2027.The bonds are sold today at $1022. New bonds would be privately placed with no flotation cost. The current price of the firm's preferred stock is $160.10, and the dividend is $10. The Citigroup Inc. will incur flotation cost of $2 per share on a new issue. The Citigroup Inc. common stock is currently selling at $43.26 per share. Its last dividend (D0) was $1.65,and dividends are expected to grow at 3%in the foreseeable future. The Citigroup Inc. beta is 0.56 , the yield on T-bonds is 4% and the average return on the market is 10%. The target capital structure is 25% for long term debt, 2% for preferred stock and 73% for common equity. What is The Citigroup Inc. weighted average cost of capital (WACC)?