The expected return on the market is 11.44 percent, the risk-free rate is 3.82 percent, and the tax rate is 40 percent. Fairfax Paint has 1,400,000 common shares outstanding that are priced at 35 dollars per share and have an expected return of 19.32 percent and an expected real return of 17.53 percent. Last year, Fairfax Paint common stock had a return of 20.66 percent. The company also has 400,000 shares of preferred stock outstanding that are priced at 20 dollars per share and have an expected return of 12.64 percent and an expected real return of 10.95 percent. Last year, Fairfax Paint preferred stock had a return of 15.16 percent. Finally, the company has 20,000 bonds outstanding with a coupon rate of 13.68 percent, yield-to-maturity of 6.22 percent, current yield of 12.44 percent, face value of 1000 dollars, and price of 1,100 dollars. What is the weighted average cost of capital for Fairfax Paint? Answer as a rate in decimal format so that 12.34% would be entered as .1234 and 0.98% would be entered as .0098.