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law firm of Dewey, Cheatem, and Howe (DCH) has the following balance sheet: Weig Aver of C Assets Liabilities and Equity Cash Receivables Office Equipment Total Assets $ 110,000 Accounts Payable 240,000 Long-Term Debt 80,000 Preferred Stock $ 70,000 160,000 100,000 100,000 $ 430,000 Common Equity Total Liablities and Equity $430,000 DCH's creditors charge 9.5 percent annual interest on loans to the company, Iit can sell preferred stock with a $10 per share dividend to the public for $50 a share (net to the company after commissions). The company's combined federal and state tax rate is 35 percent, its beta is 1.1, the risk-free rate is 4 percent, and the expected rate of return on the stock market is 12 percent. Given these conditions, what is DCH's WACC? Margi nit etructure of 60 percent debt and 40