The market value of Fords' equity, preferred stock and debt are $7 billion, $5 billion and $14 billion respectively. Ford has a beta of 1.1, the market risk premium is 8% and the risk-free rate of interest is 5%. Ford's preferred stock pays a dividend of $3 each year and trades at a price of $25 per share. Ford's debt trades with a yield to maturity of 8.5%. What is Ford's weighted average cost of capital if its tax rate is 25%? O A. 8.98% B. 8.04% C. 8.51% D. 9.46%