Market Enterprises, Inc. has 1.0 million shares of stock outstanding. The stock currently sells for $25 per share. The firms debt is publicly traded, and its market value was recently quoted at 102% of face value. It has a total face value of $7 million, and it is currently priced to yield 7 percent. The risk-free rate is 6%, and the market risk premium is 7%. Youve estimated that Market Enterprises has a beta of .95. If the corporate tax rate is 34%, what is the weighted average cost of capital of Market Enterprises, Inc.?