Given the following information.

Percent of capital structure:Debt10%Preferred stock20Common equity70Additional information:Corporate tax rate34%Dividend, preferred$5.00Dividend, expected common$5.50Price, preferred$101.00Corporate growth rate4%Bond yield5%Flotation cost, preferred$5.20Price, common$74.00

Calculate the weighted average cost of capital for Hadley Corporation. Line up the calculations in the order shown inTable 11-1.(Round intermediate calculations to 2 decimal places. Round the final answers to 2 decimal places.)

Weighted CostDebt(K_d)%Preferred stock(K_p)Common equity(K_e)Weighted average cost of capital(K_a)%