Calculate the Weighted Average Cost of capital.

Mead Plastics data regarding cost of capital is as follows:

Mead Plastics data regarding cost of capital is as follows: Bonds Yield to Maturity is 12% Preferred Stock value is $70 Common Stock value is $50 Dividends in Preferred Stocks are $7.15 Last year dividends in Common Stocks was $3.00 Flotation Costs in Preferred Stocks are $5 per share Flotation Costs in Common Stocks are 10% of value Growth rate in dividends is 5% Tax rate is 30% Optimal Capital Structure Debt = 25% M Preferred Stock = 30% Common Equity 45% Calculate the weighted Average Cost of Capital (Do not round intermediate calculations. Input your answer as a percent rounded to 0 decimal places.)