The following data pertains to Michalko Corp. Assuming that the risk-free rate is 4.2% and the market risk premium is 6.2%, calculate Michalko's weighted-average cost of capital.

Michalko Corp.
Total Assets	$14,680
Interest-Bearing Debt	$ 8,124
Average borrowing rate for debt	11.5%
Common Equity:
Book Value	$ 5,120
Market Value	$25,700
Marginal Income Tax Rate	37%
Market Equity Beta	1.275