ABC Radars has 46000 bonds outstanding that are selling at 1297.The bonds outstanding have 24 years to maturity and pay an annual coupon payment of 9%. The company also has 785000 shares of 11 percent preferred stock and 2.5 million shares of common stock outstanding. The preferred stock sells for $ 7 a share. The common stock has a beta of 1.7 and sells for $59 a share. The U.S. Treasury bill is yielding 5 percent and the return on the market is 11.9 percent. The corporate tax rate is 39 percent. What is the firm's weighted average cost of capital?