The market value of Fords' equity, preferred stock and debt are $7 billion, $5 billion and $15 billion respectively. Ford has a beta of 1.4, the market risk premium is 8% and the risk-free rate of interest is 4%. Ford's preferred stock pays a dividend of $3 each year and trades at a price of $26 per share. Ford's debt trades with a yield to maturity of 10%. What is Ford's weighted average cost of capital if its tax rate is 25%? A. 9.22% B. 8.71% C. 9.73% OD. 10.24%