Find weighted average cost of capital - yield to maturity, Corporate Finance

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Monsanto Company has 3 million shares, selling at $25 each. The company has just paid a dividend of $1.35 and the next year's dividend is expected to be $1.50, which is in line with its long-term growth rate. Monsanto has $50 million (face amount) of bonds, maturing in 10 years, with coupon 8%. The yield to maturity for the bonds is 10%.  The income tax rate of the company is 30%. Find its WACC.

Answer: 13.38%


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