$3-$ Avery Corporation's target capital structure is $35\%$ debt, $10\%$ preferred, and $55\%$ common equity. The interest rate on new debt is $6\mathrm{.}50\%,$ the yield on the preferred is $6\mathrm{.}00\%,$ the cost of common from reinvested earnings is $11\mathrm{.}25\%,$ and the tax rate is $40\%.$ The firm will not be issuing any new common stock. What is Avery's WACC?

Tax rate $=40\%$