Evergreen Mechanics has 250,000 shares of common stock outstanding at a market price of $30 a share and a market beta of 0.7.

There are 60,000 shares of preferred stock outstanding at a market price of $40 a share; the cost of preferred stock is 9%.

The outstanding bond issue of the company has a face value of $3,000,000 and a market price of $1,200.

The maturity of the bonds is 10 years and coupon rate is 9%. Coupons are paid semi-annually. Market return is 14% and risk-free rate is 5%. The company's tax rate is 40 percent. What is the weighted average cost of capital of Evergreen Mechanics?