Problem 11-23 (Algo) Weighted average cost of capital [LO11-1] Given the following Information: Percent of capital structure: Preferred stock 15% Common equity (retained earnings) Debt 55 30 Additional Information: Corporate tax rate 35% Dividend, preferred Dividend, expected common $ 10.00 $ 5.50 Price, preferred $ 106.00 8X Bond yield 10% $6.50 $ 89.00 Growth rate Flotation cost, preferred Price, common Calculate the weighted average cost of capital for Digital Processing Incorporated Note: Do not round Intermediate calculations. Input your answers as a percent rounded to 2 decimal places. Debt Preferred stock Common equity (retained earnings) Weighted average cost of capital Weighted Cost