Delta Lighting has $30,000$ shares of common stock outstanding at a market price of $$15\mathrm{.}00$ a share. This stock was originally issued at $$31$ per share. The firm also has a bond

issue outstanding with a total face value of $$280,000$ which is selling for $86$ percent of par. The cost of equity is $13$ percent while the aftertax cost of debt is $6\mathrm{.}9$ percent. The firm

has a beta of $1\mathrm{.}48$ and a tax rate of $30$ percent. What is the weighted average cost of capital?

$10\mathrm{.}07$ percent

$10\mathrm{.}87$ percent

$12\mathrm{.}36$ percent

$13\mathrm{.}29$ percent

$13\mathrm{.}47$ percent