Rainbow Ltd$.$ has provided you with the following information about their capital structure:

Bonds $$ the company has $25,000$ bonds with a face value of $$100$ each and a coupon rate of $6\%$ with interest paid semi$-$annually. The current price of the bonds is $$92\mathrm{.}89,$ and they have $10$ years to maturity. Flotation cost for debt is estimated at $4\%$

Preference shares $$ There are $2$ million preference shares outstanding. The shares carry a stated dividend of $$1\mathrm{.}60$ per share and have a current market price of $$22$ per share. Flotation costs are estimated at $5\%$

Common shares $$ There are $3$ million shares outstanding. The current market price of the shares is $$53\mathrm{.}20$ each. The shares paid a dividend of $$2\mathrm{.}70$ per share last year and investment analysists believe the dividends should grow at an average annual rate of $7\%$ for the foreseeable future. Flotation costs are estimated at $6\%.$

Required: If the company has a tax rate of $30\%,$ calculate their weighted average cost of capital. $($Use $4$ decimal places when calculating rates$)$