The common stock of BMX is currently trading at $15 per share and the company has 1.5 million shares outstanding. Its preferred shares are trading at $7.48 per share and there are 600,000 preferred shares outstanding. BMX also has $4 million of debt outstanding with a yield to maturity of 10% and selling at par. If the required return on common stock is 12%, the return on preferred stock 10% and the company's tax rate 30%, what is the company's weighted average cost of capital? Question 37 options: 11.16% 11.58% 9.70% 10.16% None of the above