Jakes Sound Systems has 400,000 shares of common stock outstanding at a market price of $80 a share. Jakes annual dividend just paid an amount of $3.00 per share. The dividend growth rate is 5%. Jakes also has 10,000 bonds outstanding with a face value of $1,000 per bond. The bonds have a 5% coupon rate, pay interest semi-annually, and mature in 30 years. The bonds are selling at 98% of face value. The companys tax rate is 21%. What is Jakes weighted average cost of capital?