Joannes company has a target capital structure of 40% debt, 10% preferred stock, and 50% common equity. The companies after-tax cost of debit is 5.8%, it's cost for preferred stock is 7.4% it's cost of retained earnings is 13.3% and its cost of new common stock is 22.2%. The company stock has a beta of 1.4 and the company is marginal tax rate is 40%. What is the company's weighted average cost of capital if retained earnings are used to fund the common equity portion?