1. Ampex common stock has a beta of 1.4. If the risk free rate is 8 percent, the expected market return is 16 percent, and Ampex has $20 million of 8 percent debt with 10 years until maturity. It has a yield to maturity of 12 percent and a marginal tax rate of 50 %. D/E for the company is 2.0. What is the weighted average cost of capital for Ampex?