Based on current market values, the FIN340 Company has calculated its capital structure weightings to be comprised of 73% common stock, 11% preferred stock, and 16% debt; The pre-tax cost for each is common stock 9.30%, preferred stock 8.30%, and debt 3.60% and the company has a tax rate of 21%; What is the FIN340 Company's weighted average cost of capital (WACC)?

8.16%

8.28%

6.54%

7.07%

8.40%

10.02%

8.32%