BBC's equity beta is 1.7. It has 2,766 shares of common stock outstanding at a market price of $22.8 per share. It also has 37 bonds outstanding with face value of $1,000 per bond that are trading at 7.8% yield to maturity. The bonds carry a 6% coupon (paid semiannually), and mature in 8 years. The risk-free rate is 1.6%, the expected market return is 12.3% and the company's tax rate is 30%. What is BBC's weighted average cost of capital?