"Based on current market values, the FIN340 Company has calculated its capital structure weightings to be comprised of 70% common stock, 8% preferred stock, and 22% debt; The pre-tax cost for each is common stock 10.20%, preferred stock 8.00%, and debt 5.10% and the company has a tax rate of 21%; What is the FIN340 Company's weighted average cost of capital (WACC)?"

9.14%

10.77%

8.86%

8.67%

8.90%

7.03%

7.77%