Assume the market value of Fords' ordinary equity, preference share, and debt are $6 billion, $2 billion, and $13 billion, respectively. Fords equity has a beta of 1.7, the market risk premium is 8%, and the risk-free rate of interest is 4%. Ford's preference share pays a dividend of $4 each year and trades at a price of $30 per share. Ford's debt trades with a yield to maturity of 8.0%. What is Ford's weighted average cost of capital if its tax rate is 30%?