12. Marsha Corporation is financed as follows: --60,000 ten-year bonds with market values of 92% of face value of $1,000. --80,000 shares of preferred stock trading in an active market at $16 per share --1,000,000 shares of common stock trading in an active market at $23 per share --The bonds pay $60 interest payments annually, have a face value of $1,000 and trade in the market at $940 --Marsha is in the 27% marginal tax bracket --The preferred stock pays a $2.20 dividend with no growth. --The common stock has a beta of 1.3, the risk-free rate is 3.5%, and the market risk premium is 6%. Given the information above, what is the weighted average cost of capital for Marsha Corporation?