Q$21)$

Ewha Corp has $$120,000,000$ bonds outstanding that are selling at par. Bonds with similar characteristics are yielding $10\mathrm{.}0$ percent. The company also has $2,000,000$ shares of preferred stock which pays dividend of $$9$ every year and $3,000,000$ shares of common stock outstanding. The preferred stock sells for $$60$ a share. The common stock has a beta of $1\mathrm{.}5$ and sells for $$50$ a share. The risk$-$free rate is $2\mathrm{.}2$ percent and the return on the market is $11\mathrm{.}2$ percent. The corporate tax rate is $40$ percent. What is the firm's weighted average cost of capital?