ABC Company is evaluating its cost of capital under alternative financing arrangements. In consultation with investment bankers, ABC expects to be able to issue new debt at par with a coupon rate of 6% and to issue new preferred stock with a $2.50 per share dividend at $34 a share. The common stock of ABC is currently selling for $20.00 a share. ABC expects to pay a dividend of $1.50 per share next year. Market analysts foresee a growth in dividends in Invest stock at a rate of 5% per year. ABC ' marginal tax rate is 35%. ABC Company raises capital using 30% debt, 30% preferred stock, and 40% common stock, what is ABC 's weighted average cost of capital