Ninecent Corporation has a target capital structure of $70$ percent common stock, $5$ percent preferred stock, and $25$ percent debt. Its

$2$ cost of equity is $11$ percent, the cost of preferred stock is $5$ percent, and the pretax cost of debt is $6$ percent. The relevant tax rate is $23$ percent. What is the company's WACC?

$\backslash$table$[[3,$Input Area:,$],[4,,],[6,$Debt$-$equity ratio,$0\mathrm{.}35],[7,$Cost of equity,$1180],[8,$Cost of debt,$5\%$