A public traded company has116,000 outstanding common shares in total, and each share currently is currently traded in the market with a price of $24.

The company also has outstanding bond and preferred shares.

The outstanding bond has a total face value of $900,000 and market value of 105% of face value.

Its preferred shares has a market price of $38 and total shares outstanding is 51,000. The company's cost of common equity, cost of preferred share and cost of debt are 12%, 9% and 8% respectively. What is the cost of capital for the company?

The companys tax rate is 35%.

A. 9.19%

B. 12.60%

C. 14.94%

D. 9.84%

E. 10.31%