9-23. The law rm of Dewey, Cheatem, and Howe [DCH] has the following balance sheet: Assets Cash $ 110,000 Receivables 240,000 Ofce Equipment 80,000 TotelAseete $ 430,000 Liabilities and Equity Accounts Payable $ ?0.000 Long-Term Debt 160.000 Preferred Stock 100.000 Common Equity 100.000 TotaE Liabilities and Equity $ 430.000 DCH's creditors charge 9.5 percent annual interest on loans to the company. It can sell preferred stock with a $10 per share dividend to the public for $50 a share {net to the company after commissions). The company's combined federal and state tax rate is 35 percent, its beta is 1.1, the risk-free rate is 4 percent, and the expected rate of return on the stock market is 12 percent Given these conditions, what is DCH's WAGE? \"In Welghted Average Cost of Capital