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Jakes Sound Systems has 210,000 shares of common stock outstanding at a market price of $36 a share. Last month, Jakes paid an annual dividend (DO) in the amount of $1, 593 per share. The dividend growth rate is 8 percent. Arte of the return and the T-bill rate is 4 percent. The stock of the company bond. The Jake's also has 6,000 bonds outstanding with a face value of $1,000 per bond The bonds carry a 7 percent coupon, pay interest annually, and mixture in 4.89 years. The bonds are selling at 99 percent of face value. The companys tax rate is 34 percent. What is Jake's weighted average cost of capital?
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