Hurricane Corporation is financed with debt, preferred equity, and common equity with market values of $20 million, $10 million, and $30 million, respectively. The betas for the debt, preferred stock, and common stock are 0.2, 0.5, and 1.1, respectively. If the riskfree rate is 3 percent today, the market risk premium is 6 percent, and Hurricane’s average and marginal tax rates are both 30 percent, what is the company’s weighted average cost of capital?