The market value of Fords' equity, preferred stock, and debt are $8 billion, $2 billion, and $14 billion, respectively. Ford has a beta of 1.2, the market risk premium is 8%, and the risk-free rate of interest is 3%. Ford's preferred stock pays a dividend of $2 each year and trades at a price of $30 per share. Ford's debt trades with a yield to maturity of 7%. What is Ford's weighted average cost of capital if its tax rate is 25%?

A. 8.21%

B. 7.82%

C. 8.6%

D. 9.38%