Assume that a for-profit company has $8 million of long-term debt with an interest rate of 6%. It has $3 million of preferred stock with a required dividend rate of 8%. And it has $4 million of common stock that is estimated to have a cost of capital of 10%. What is its weighted average cost of capital? In order for your answer to be graded correctly, Do not use any symbols (e.g. $) or comma. Use only numeric values. For example, if your answer is $123,456, then in the boxes below you should type 123456.