Consider the following information for Odarian, Inc.:

• Odarian's target capital structure weights are 52% long-term debt, 15% preferred stock, and 33% equity.

• The firm has one outstanding 17.32% bond issue that matures on July 30, 2037, makes semiannual payments, and currently sells for $1,182 per bond. Assume that July 30, 2022, is the settlement date for the bond issue.

• Odarian's preferred stock pays an annual dividend of $11.08 and currently sells for $81.49.

• The company's common stock's returns have a covariance of 0.00352289113 with the market's returns. The variance of the market's returns is 0.001883899. The market risk premium is 13.00 percent, and the risk free rate of return is 2.63 percent.

• The company's marginal tax rate is 18%.

• What is Odarian's weighted average cost of capital?