Messan Co. (a U.S. firm) borrows U.S. funds at an interest rate of 10 percent per year. Its beta is 1.0. The long-term annualized risk-free rate in the U.S. is 6 percent. The stock market return in the U.S. is expected to be 16 percent annually. Messans target capital structure is 40 percent debt and 60 percent equity. The firm is subject to a 30% corporate tax rate (federal and state combined). What is the weighted average cost of capital for Messan Co.?