J. Corporation has 375,000 shares of common stock outstanding at a market price of $54 per share. Next years annual dividend is expected to be $5.90 per share. The dividend growth rate is 4.2 percent. The firm also has 13,950 bonds outstanding with a face value of $1,000 per bond. The bonds carry a 5.4 percent coupon, pay interest semiannually, and mature in 7 years. The bonds are selling at 91 percent of face value. The applicable tax rate is 21 percent. What is the companys weighted average cost of capital? Round your intermediate work and final answer to at least 4 decimal places.