Given the following information:

Percent of capital structure:

Preferred stock	25	%
Common equity	35
Debt	40

Additional information:

Corporate tax rate		30	%
Dividend, preferred	$	12.00
Dividend, expected common	$	7.50
Price, preferred	$	95.00
Growth rate		10	%
Bond yield		12	%
Flotation cost, preferred	$	8.50
Price, common	$	80.00

Calculate the weighted average cost of capital for Digital Processing Inc. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)