Mullineaux Corporation has a target capital structure of 70 percent common stock, 5 percent preferred stock, and 25 percent debt. Its cost of equity is 11 percent the cost of preferred stock is 5 percent and the cost of debt is 7 percent. The relevant tax rate is 23 percent. What is the company's WACC?

Common stock 70%

Preferred stock 5 %

Debt 25%

cost of equity 11%

cost of preferred stock 5%

cost of debt 7%

Tax rate 23%