FL Products, Inc. has a target capital structure of 65% common stock, 10% preferred stock, and 25% debt. It has a cost of equity using the CAPM of 12.0%, the preferred stock has a dividend stated rate of 3.0% and its current market yield is 3.5%, and it's outstanding bonds have a coupon of 7.0% and a yield to maturity of 8.0%. The company's tax rate is 25%. What is the company weighted average cost of capital?