TechHub Inc. has 150,000 shares of common stock outstanding at a market price of $20 a share and a market beta of 1.3. The outstanding bond issue of the company has a face value of $2,000,000 and a market price of $1,300. The maturity of the bonds is 20 years and coupon rate is 8%. Coupons are paid semi-annually. There are 70,000 shares of preferred stock outstanding at a market price of $30 a share. The cost of preferred stock of 6%. Market return is 9% and risk-free rate is 3%. The company's tax rate is 35 percent. What is the weighted average cost of capital of TechHub Inc.?

A. 7.05%

B. 7.35%

C. 7.70%

D. 8.57%

E. None of the above