Lowell Publishing has a cost of debt of 6.6%, a cost of equity of 13.4%, and a cost of preferred stock of 8.5%. The firm has 260,000 shares of common stock outstanding at a market price of $50 a share. There are 30,000 shares of preferred stock outstanding at a market price of $40 a share. The bond issue has a total face value of $10,000,000 and sells at 104% of face value. The tax rate is 25%. What is the weighted average cost of capital for Lowell Publishing? (Hint: use the bond price to calculate the market value of debt)

		10.42%
		10.13%
		9.81%
		9.59%
		9.27%