Firm XYZ has 10 shares of common stock outstanding at a price per share of $45 and a rate of return of 14%. The firm has 5 shares of 7% (per par 100) preferred stock outstanding at a price of $55 a share. The outstanding debt has a total face value of $200 and a market price equals to par (100% face value). The yield-to-maturity on the debt is 8.00%. What is the firm's weighted average cost of capital if the marginal tax rate is 34%?Enter percentage, round to 2 decimal places.