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A firm's total assets are $1845 mln. The firm funds the assets with $198 mln of debt, $149 mln. of preferred stock, and the remainder
A firm's total assets are $1845 mln. The firm funds the assets with $198 mln of debt, $149 mln. of preferred stock, and the remainder with common equity. What is the firm's WACC if its pre-tax cost of debt is 6%, cost of preferred stock is 7.9%, cost of common equity is 14.4%, and the tax rate is 28%? Express your answer in %, to the nearest 0.01%; drop the % symbol.
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