Oxy Corporation uses debt, preferred stock, and common stock to raise capital. The firm's capital structure targets the following proportions: debt,

52%;

preferred stock,

18%;

and common stock,

30%.

If the cost of debt is

6.2%,

preferred stock costs

9.8%,

and common stock costs

10.6%,

what isOxy's weighted average cost of capital

(WACC)?

Oxy's weighted average cost of capital (WACC) is ?