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Aphid Corp. will finance its next major expansion with 6 0 % debt, 1 0 % preferred stock, and 3 0 % retained earnings. Aphid

Aphid Corp. will finance its next major expansion with 60% debt, 10% preferred stock, and 30% retained earnings. Aphids after-tax cost of debt is 5.1%, cost of preferred stock is 8.6%, and cost of retained earnings is 13.5%. What is the corporations weighted average cost of capital? Submit your answer as a percentage and round to two decimal places (Ex.0.00%)

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