The companys target capital structure is 30% debt, 5% preferred stock, and 65% common stock. It is currently financed with $300 mil with debt, $50 mil with preferred stock, and $250 mil with common stock. Its stated tax rate is 25%, with the cost of debt at 6%, cost of preferred stock of 5.8%, and cost of common stock of 12%.

Calculate its overall cost of capital, WACC.