Hidden Hieroglyphics Inc. has 930,000 shares of common stock outstanding that is priced at $45 per share. Next years annual dividend is expected to be $4.29 per share. The dividend growth rate is 4 percent. The firm also has 20,000 bonds outstanding with a face value of $1,000 per bond. The bonds carry a 9 percent coupon rate, pay interest semiannually, and mature in 14 years. The bonds are selling at 103 percent of face value. The companys tax rate is 21 percent. What is the firms weighted average cost of capital?

Group of answer choices

8.38 percent

10.05 percent

11.32 percent

12.51 percent

15.19 percent