Jake's Sound Systems has 210,000 shares of common stock outstanding at a market price of $36 a share. Its beta is 0.5. Market expected return is 12% and risk-free rate is 5%. Jake's 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 5 years. The bonds are selling at $990. The company's tax rate is 34%. What is Jake's weighted average cost of capital?