As the CFO of your company, you want to determine the rate your company must require for capital investment projects. You have gathered the following information about the various funding sources and market conditions.

Debt: 8,000 bonds. 5.7 annual% coupon, with semiannual payments. $1,000 face value. 23 years to maturity. Priced at $1,050 per bond.

Preferred stock: 17,500 shares preferred stock. Priced at $80 per share. $3.50 dividend per share.

Common Stock: 410,000 shares. Priced at $59 per share. Beta is 1.10.

Market: 7% market risk premium. 4.5% risk-free rate. Companys tax rate is 23%.

What is the company's Weighted Average Cost of Capital?

(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 12.34.)