Consider a company with a capital structure consisting of 20% debt and 16% preferred stock, with the remainder in common stock. The company's debt is represented by one bond issue, which currently has a yield to maturity of 5.99%. The preferred shares each have a par value of $1,000 and offer a dividend rate of 6.3%. The market price per share of the preferred stock is currently $1,080.49. The firm's cost of common equity has been estimated to be 12.42% using the CAPM. The company's tax rate is 25%. What is the company's weighted average cost of capital (WACC)