Bergkamp Fur Outlets, Inc. has 1,500,000 common shares outstanding and recently paid a $4.25 dividend. The dividend is expected to increase at 3 percent per year for the foreseeable future and the current price is $19.50 per share. The company also has 250,000 shares of preferred stock outstanding that pays a $5.50 dividend and is currently priced at $32.50 per share. Finally, Borgkamp has 65,000 bonds outstanding with a 9.5% annual coupon and 11 years remaining until maturity. The current price of the bonds are $733. The company is in the 35 percent tax bracket. What is Bergkamp's weighted average cost of capital? Round to two decimals and give it as a percent. So, if you calculate the answer to be .0438, you would answer 4.38 for 4.38%