The expected return on the market is 12.25%, the risk-free rate is 4.59%, and the tax rate is 19.00%. Semper Fun Sports has 300,000 common shares outstanding that are priced at $40.00 per share and have an expected return of 17.26% and an expected real return of 14.24%. Last year, Semper Fun Sports common stock had a return of 11.32%. The company also has 400,000 shares of preferred stock outstanding that are priced at $15.66 per share and have an expected return of 13.47% and an expected real return of 11.63%. Last year, Semper Fun Sports preferred stock had a return of 8.36%. Finally, the company has 10,000 bonds outstanding with a coupon rate of 9.25%, yield-to-maturity of 4.64%, current yield of 8.24%, face value of $1,000.00, and price of $1,220.00. What is the weighted average cost of capital for Semper Fun Sports?

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