FINA Company’s assets are $500 million, financed through bank loans, bonds, preferred stocks and common stocks. The amounts are as follows:

Bank loans: $ 100 million borrowed at 4%

Bonds: $200 million, paying 8% coupon with semi-annual payments, and maturity of 10 years. FINA sold its $1,000 par-value bonds for $960 and had to incur $40 floatation cost per bond.

Preferred Stocks: $50 million, paying $20 dividends per share. FINA sold its preferred shares for $205 and had to incur $5/share floatation cost.

Common Stocks: $150 million, the beta of FINA stocks is 2.2, the 90-day Treasury yield is 2%, return on the market portfolio is 12 %.

If FINA is subject to 30% tax rate, what is the WACC for FINA?