Given the following information.

Percent of capital structure:

Debt $30\%$

Preferred stock $10$

Common equity $60$

Additional information:

Corporate tax rate $34\%$

Dividend, preferred $$9\mathrm{.}00$

Dividend, expected common $$3\mathrm{.}50$

Price, preferred $$102\mathrm{.}00$

Corporate growth rate $6\%$

Bond yield $7\%$

Flotation cost, preferred $$3\mathrm{.}20$

Price, common $$70\mathrm{.}00$

Calculate the weighted average cost of capital for Hadley Corporation. Line up the calculations in the order shown in Table $111.($Round intermediate calculations to $2$ decimal places. Round the final answers to $2$ decimal places.$)$

Weighted Cost

Debt $($Kd$)$

$\%$

Preferred stock $($Kp$)$

Common equity $($Ke$)$

Weighted average cost of capital $($Ka$)$

$\%$