Easy Car Corp. is a grocery store located in the Southwest

Easy Car Corp. is a grocery store located in the Southwest. It plans to pay an annual dividend of ​$3.00 next

year to its shareholders and plans to increase the dividend annually at the rate of 3.0​%. It currently has 1,000,000 common shares outstanding. The shares currently sell for ​$20 each. Easy Car Corp. also has 30,000 semiannual bonds outstanding with a coupon rate of 9​%, a maturity of 23 ​years, and a par value of ​$1,000. The bonds currently have a yield to maturity​ (YTM) of 9%. What is the weighted average cost of capital (WACC) for Easy Car Corp. if the corporate tax rate is 20%?

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