Mead Plastics data regarding cost of capital is as follows: Bonds Yield to Maturity is 13% Preferred Stock value is $70 Common Stock value is 550. Dividends in Preferted Stocks are $7.15 Last year dividends in Common Stocks was $2.00 Flotation Costs in Preferred Stocks are $6 per share Fotation Costs in Common Stocks are 10% of value Growth rate in dividends is 4% Tax rate is 2596 Optimal Capital Structure Debt=25% Preferred Stock = 30% Common Equity =45% Calculate the Weighted Average Cost of Capital (use cost of issuing new equity) (Do not round intermediate calculations. Input your answer as a percent rounded to 0 decimal places.)