MicroTech Corporation is subject to a 37% income tax rate. Given the following information about the firms capital structure, calculate the corporations weighted-average cost of capital (WACC): (Do not round intermediate calculations. Round your answers to 2 decimal places. (i.e. 0.1234 = 12.34%).)

Source of Funds Market Value After-Tax Rate or Expected Return Long-term debt $ 40 million 9% Preferred stock 60 million 11 Common stock 60 million 15 Source of

Funds Components for WACC Calculation

Long-term debt %

Preferred stock %

Common stock % %