$7-2.$ Kay PR$,$ Inc., a well$-$known public relations firm, has provided you with the following information concerning its financial situation:Kay PR has $8,000$ bonds outstanding. Each bond has a market price of $$1,050\mathrm{.}00,$ with a $$1,000\mathrm{.}00$ face value, $8\mathrm{.}00\%$ annual coupon rate, and tenyears to maturity.Kay PR has $20,000$ shares of preferred stock outstanding, with a market price of $$110\mathrm{.}00$ per share. The preferred dividend equals $12\mathrm{.}00\%$ of the stocks $$100\mathrm{.}00$ par value.Kay PR has $250,000$ shares of common stock outstanding. The market price per share is $$30\mathrm{.}00.$ The next dividend on the stock is expected to be $$2\mathrm{.}00,$ while the dividend growth rate will be $8\mathrm{.}00\%.$What is Kay PRs weighted average cost of capital, assuming a tax rate of $35\%?$