Gardner, Inc., plans to finance its expansion by raising the needed investment capital from the following sources in the indicated proportions and respective capital cost rates:

Capital Cost
Source	Proportion	Rate
Bonds	30%	13%
Preferred stock	10%	9%
Common stock	50%	12%
Retained earnings	10%	9%
	100%

Calculate the weighted average cost of capital. Round to one decimal place. For example, 0.4567 = 45.7%.

Weighted Average
	Cost of Capital
Bonds	%
Preferred stock	%
Common stock	%
Retained earnings	%
	%