Marsha Corporation is financed as follows:

--60,000 ten-year bonds, with market values of $920 and a face value of $1,000.

--80,000 shares of preferred stock, trading in an active market at $18 per share

--1,000,000 shares of common stock trading in an active market at $23 per share

--The bonds pay $60 interest payments semi-annually.

--Marsha is in the 29% marginal tax bracket

--The preferred stock pays a $2.28 dividend with no growth.

--The common stock has a beta of 1.3, the risk-free rate is 3.5%, and the market risk premium is 5%.

Given the information above, what is the weighted average cost of capital for Marsha Corporation?