Laurens Laundry Service has the following amounts of equity and debt. The CFO has computed the corresponding rates on equity, preferred and debt. The tax rate is 35%. What is Laurens weighted average cost of capital?

Amount Rate

Common Stock 200,000 12%

Preferred Stock 65,000 8%

Debt 135,000 10%

Laurens Laundry Service WACC ______________________