A firm finances itself with 35 percent debt, 60 percent common equity, and 15 percent preferred stock. The corporate tax rate is 35%. The before-tax cost of debt is 4.8 percent, the firm's cost of common equity is 14.3 percent, and that of preferred stock is 7 percent. What is the firm's weighted average cost of capital?

please explain the steps in calculating wacc where there are three types of financing (debt, common equity, and preferred stock)