The Bell Inc. has a target capital structure of 30% debt, 10% preferred, and 60% common equity. The yield to maturity of the long-term bond is 9.00%, the cost of preferred is 8%, and the cost of retained earnings is 12%. The tax rate of the firm is 25%. Please calculate the WACC of the firm.

Group of answer choices

12%

14%

10%

8%