Assume a company has 4,000 outstanding shares currently being traded at NASDAQ for $18 a share. If the cost of equity = 12.2% based on the SML method and the cost of debt (before taxes) = 7.5% based on a bank loan currently with $15,000 debt outstanding, and zero preferred stocks, what is the company's Weighted Average Cost of Capital? Use corporate tax rate = 21%.

Answer choides:

8.3% 10.1% 11.1% 9.9%