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Dinklage Corp. has 7 million shares of common stock outstanding.The current share price is $86, and the book value per share is $5.The company also has two bond issues outstanding. The first bondissue has a face value of $70 million, a coupon rate of 9 percent,and sells for 96 percent of par. The second issue has a face valueof $45 million, a coupon rate of 10 percent, and sells for 104percent of par. The first issue matures in 24 years, the second in6 years. Suppose the most recent dividend was $5.80 and thedividend growth rate is 7 percent. Assume that the overall cost ofdebt is the weighted average of that implied by the two outstandingdebt issues. Both bonds make semiannual payments. The tax rate is34 percent. What is the company’s WACC? (Do not round intermediatecalculations. Enter your answer as a percent rounded to 2 decimalplaces, e.g., 32.16.)WACC---- %