Jemisen's firm has expected earnings before interest and taxes of $1,300. Its unlevered cost of capital is 12 percent and its tax rate is 34 percent. The firm has debt with both a book and a face value of $1,800. This debt has a 9 percent coupon and pays interest annually. What is the firm's weighted average cost of capital?

11.58 percent

11.05 percent

11.96 percent

11.11 percent

11.28 percent