Dexter Corp has 9.4% coupon bonds outstanding that have a remaining maturity of 10 years. They pay interest semiannually, and are currently selling for $1075 for every $1000 of face value. The firm also has perpetual preferred stock outstanding. Each of the preferred shares has a par value of $100, and is currently trading for $80. Each carries a fixed annual dividend of $10. Dexter common stock is trading at $38.40 per share. Each share of common is expected to pay a dividend of $4.15 for the coming year (i.e. one year from today). Analysts expect Dexter earnings and per-share dividends to grow at a constant rate of 3.75% for the foreseeable future. Dexter stock is estimated to have a beta of 1.55. The estimated market risk premium is 7%, and the proxy for the risk-free rate is the 3.25% yield on US Treasury securities. Dexter faces a marginal tax rate of 28%. Its management has a policy of raising funds in the following market-value based proportions: Common Stock 25%; Debt 60%; and Preferred Stock 15%. Estimate Dexter Corps weighted average cost of capital (WACC).