Given the following information:

Percent of capital structure:

Preferred stock $30\%$

Common equity $($retained earnings$)40$

Debt $30$

Additional information:

Corporate tax rate $35\%$

Dividend, preferred $ $7\mathrm{.}00$

Dividend, expected common $ $2\mathrm{.}50$

Price, preferred $ $95\mathrm{.}00$

Growth rate $3\%$

Bond yield $5\%$

Flotation cost, preferred $ $3\mathrm{.}50$

Price, common $ $83\mathrm{.}00$

Calculate the weighted average cost of capital for Digital Processing Incorporated

Note: Do not round intermediate calculations. Input your answers as a percent rounded to $2$ decimal places.Given the following information: