QUESTION 16 A firm has a target capital structure of 41 percent common stock, 4 percent preferred stock, and 55 percent debt Its cost of equity is 19 percent, the cost of preferred stock is 6.5 percent, and the pre-tax cost of debt is 7.5 percent. What is the firm's WACC given a tax rate of 34 percent? 9.87 percent 10.77 percent 11.38 percent 12.27 percent