Jakes Sound Systems has 210,000 shares of common stock outstanding at a market price of $36 a share. Last month, Jakes paid an annual dividend in the amount of $1.593 per share. The dividend growth rate is 4%. Jakes also has 6,000 bonds outstanding with a face value of $1,000 per bond. The bonds carry a 7 % coupon, pay interest annually, and mature in 4.89 years. The bonds are selling at 99% of face value. The companys tax rate is 34%. What is Jakes weighted average cost of capital?