17. J & B Corp. is investing in a major capital budgeting project that will require the expenditure of $16 million. The money will be raised by issuing $2 million of bonds, S4 million of preferred stock, and $10 on of new common stock. The company estimates is after-tax cost of debt to be 7%, its cost of illi preferred stock to be 996, the cost of retained earnings to be l 4%, and the cost of new common stock to be 17%. What is the weighted average cost of capital for this project? A) 12.20% B) 13.12% C) 13.75% D) 14.23%