PNB Industries has $20$ million shares of common stock outstanding with a market price of $$19\mathrm{.}00$ per share. The company also has outstanding preferred stock with a market value of $$40$ million, and $400,000$ bonds outstanding, each with face value $$1,000$ and selling at $98$ percent of par value. The cost of equity is $16$ percent, the cost of preferred is $13$ percent, and the cost of debt is $9$ percent. If PNB$\text{'}$s tax rate is $40$ percent, what is the WACC?

$7\mathrm{.}05$ percent

$9\mathrm{.}47$ percent

$11\mathrm{.}31$ percent

$10\mathrm{.}73$ percent