14.1

NBC has 13,955 shares of common stock outstanding at a market price of $28.9 a share. It pays an annual dividend of $4.9 per share forever. It also has 147 bonds outstanding with a face value of $1,000 per bond. The bonds carry a 11% coupon, pay interest semiannually, and mature in 16 years. The bonds are trading to yield at 9%. The company's tax rate is 27%. What is NBC's weighted average cost of capital?

round answer to 4 decimal places