Durr Enterprises has asked you to calculate their weighted average cost of capital (WACC). They have given you the following information:Durr currently has a bond issue outstanding that you are to use to determine their cost of debt financing:The bond has 10 years remaining to maturity.The bond pays interest annually and has a coupon rate of 6%. The bond is currently quoted at 95% of par. Total book value of the debt issue is $10 million.Durr’s tax rate is 39%.Total shareholders’ equity on Durr’s balance sheet is $3 million.They issued 500,000 common shares with a par value of $0.10 per share. Their current stock price is $57 per share.The beta on Durr’s stock is 1.2. The current risk-free rate is 4%. You have been instructed to use a market risk premium of 7% in your analysis.Given this information, calculate Durr’s WACC.