Dunder Mifflin Inc. has a pre-tax cost of debt of 7%, and debt represents 30% of the company's market value. It has preferred stock with a cost of 8.2%, representing 15% of its market value. It also has common stock currently trading at $43 per and, on which it paid a $1.50 dividend last year. Expectations are that the dividend will grow at 9% annually. Dunder Mifflin's tax rate is 21%. What is Dunder Mifflin's weighted average cost of capital? (answer as a percent rounded to two decimals, i.e., x.xx%)