A public company has the following balance sheet ($000s)

Cash $540

Accounts Receivable $4,580

Inventories $7,400 Long Term Debt $12,590

Net Fixed Assets $18,955 Common Equity $18,885

Total Assets $31,475 Total debt & Equity $31,475

At present, the firms common stock is selling for a price equal to its book value, and the forms bonds are selling at par. The market requires a 15% return on the common stock, the firms bonds command a yield to maturity of 8% and firm faces a tax rate of 34%. What is the firms weighted average cost of capital?