Limited 2inc. has a yield to maturity on its debt of 3.7 percent, a cost of equity of 8.4 percent, and a cost of preferred stock of 8 percent. The firm has 100 shares of common stock outstanding at a market price of $20 a share. There are 25 shares of preferred stock outstanding at a market price of $40 a share. The bond issue has a total face value of $2,000 and sells at par. If the tax rate is 21 percent, what is the weighted average cost of capital, assuming all interest is tax deductible? (Please answer in a decimal format and keep 4 decimal places. Answers in percent will not receive credits.)