Inkcorp Inc. is financing its new product line with issuance of 5 shares of 8 years 4% coupon bond with yield to maturity 3.5%, 60 shares of preferred stock with dividend $2.5 and return of 10%, and 800 shares of common equity at current price of $15 per share. If its common stock has beta 2.25 and long-term risk free rate is 3% and total market return is 9%. What is the weighted Average Cost of Capital given its tax rate is 35%? Ignore floatation costs. (6 points)