The Garcia Company has determined that its cost of debt is 6%, its cost of preferred stock is 10%, its cost of retained earnings is 12%, and its cost of new common stock is 15%. All costs are before tax. The firm's target capital structure is 40% debt, 10% preferred stock, and 50% common stock equity. The firm's marginal tax rate is 25%. Additionally, the firm's managers believe that they will not need to issue any new shares of common stock in the next year. Given this information, determine Garcia's Weighted Average Cost of Capital (WACC) for next year