Conrad Inc. is investing in a major capital budgeting project that will require the expenditure of $$10$ million. The money will be raised by issuing $$2$ million of bonds, $$3$ million of preferred stock, and $$5$ million of new common stock. The company estimates is after$-$tax cost of debt to be $7\%,$ its cost of preferred stock to be $9\%,$ and the cost of new common stock to be $17\%.$ What is the weighted average cost of capital for this project?