A company has a cost of debt of 6.4%, a cost of equity of 14.4%, and a cost of preferred stock of 9.2%. The company has 320,000 shares of common stock outstanding at a market price of $65 a share. There are 10,000 shares of preferred stock outstanding at a market price of $40 a share. The bond issue has a total face value of $16,000,000 and sells at 102% of face value. The tax rate is 21%. What is the weighted average cost of capital for the company? (Hint: use the bond price to calculate the market value of debt) 9.76% 10.04% 10.28% 1046% 1068%