A companys target capital structure consists of 30% debt, 20% preferred stock and 50% common stock. The yield to maturity on this company bonds is 9%, the cost of preferred stock is 11% and the cost of retained earnings is 13%. The tax rate of this company is 40%. What is the WACC of this company?

		14.32%
		10.32%
		13.32%
		12.32%
		11.32%