Details of the capital structure of Mineral Ltd. appear below:

Bonds Number issued

38.000

Coupon rate

5.5%

Interest payments

semi-annually

Years to maturity

15

Current price

$92

Preferred shares

Number issued

Dividend per share

Current brice

2 million.

$3.5

$31

Common shares

Number issued

Next dividend per share

Dividend growth rate

Current price

2.8 million

$45

7%

$40

Flotation costs

Bonds

Preference shares

Common shares

5%

6%

7%

Required: The company's tax rate is 40%. Calculate the company's weighted average cost of capital (Use 4 decimal places)