A club has 100,000 shares of common stock outstanding at a market price of $63 a share. The common stock will pay a $2.80 annual dividend next year and has a dividend growth rate of 3.2 percent. There are 20,000 shares of preferred stock (which pay a $1.50 dividend) outstanding at a market price of $30 a share. The company originally raised $2,400,000 with its outstanding 9.89 percent coupon bonds (semi-annual compounding, $1,000 Face Value) which mature in 12 years and have a market price of $950 each. The tax rate is 21 percent.

What is the Weighted Average Cost of Capital (WACC)? (x.xx) percent

(Please don't use excel)