Suppose Fastest Companys current balance sheet showed book value weights of 32 percent debt, 11 percent preferred shares, and 57 percent common equity. Assuming its cost of debt was 3 percent, the cost of preferred shares was 5 percent, and the cost of common equity was 9 percent, estimate Fastest Companys WACC (based on these book value weights).

Foerster, Stephen (2014-03-03). Financial Management: Concepts and Applications (Page 214). Prentice Hall.