A company has a cost of debt of 6.54%, a cost of common equity of 10.74%, and a cost of preferred stock of 7.64%. All three costs are before taxes. The company has 104,000 shares of common stock outstanding at a market price of $24.50 a share. There are 40,000 shares of preferred stock outstanding at a market price of $38.10 a share. The bond issue has a total face value of $500,000 and sells at 99.0% of face value. The corporate tax rate is 34 %. What is the weighted average cost of capital for this company? 8.56% 8.78% 9.01% 9.23% 9.46%