Perth Properties has 6.5 million shares of common stock outstanding with a market price of $14 per share. The company also has outstanding preferred stock with a market value of $10 million, and 25,000 bonds outstanding, each with face value $1,000 and selling at 90% of par value. The cost of equity is 14%, the cost of preferred is 10%, and the before tax cost of debt is 7.25%. If Perth's tax rate is 34%, what is the WACC? Question 31 options: 9.5% 12.0% 10.8% 11.6% 10.0%