Problem 11-23 Weighted average cost of capital [L011-1 Given the following information: Percent of capital structure: Preferred stock Common equity Debt 20% 40 40 Additional information: Corporate tax rate Dividend, preferred Dividend, expected common Price, preferred Growth rate Bond yield Flotation cost preferred Price, common 34% S 8.50 S 2 50 S 105 00 7% 9.5% S 360 s 7500 Calculate the weighted average cost of capital for Digital Processing Inc. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)