Please help.
FIA Co. is trying to estimate its current cost of capital. FIA Co. believes that the appropriate weight of debt is 30% and the appropriate weight of equity is (1- 30%). It has a tax rate of 2%. Its bonds currently trade in the market for a price of $8,785. These $10,000 par value bonds have a coupon rate of 7.8% (semi-annual coupon payments) and they mature in 30 years. The beta of FIA Co. is 1.52. The risk-free rate is 7% and the market return is 13%.
The WACC of FIA Co. is ____%.