Using the following data, determine the Weighted Average Cost of Capital (WACC) for Sortac Corporation:
- Asset (unlevered) Beta: 1.02
- Debt: $450 million
- Average Interest Rate on indebtedness: 6.95%
- Shares Outstanding: 110 million
- Recent Share Price: $8.50/share
- Market Risk Premium: 5.5%
- 10-Year U.S. Government Bond Yield: 1.9%
- Corporate Tax Rate: 21% .