The Rolling Dough Dessert Company currently has debt which consists of 8 percent coupon bonds (semi-annual coupon payments) which have a maturity of 14 years and are currently priced at $1,154 per bond. There are 12,000 of these bonds outstanding. The firm also has an issue of 1 million preferred shares outstanding with a market price of $14.00 per share. The preferred shares pay an annual dividend of $0.85. RDDC also has 1.5 million shares of common stock outstanding with a price of $19.00 per share. The firm’s beta is 1.3 and the current risk-free rate is 4%. If the expected return on the market is 9% and RDDC is subject to a 40 percent marginal tax rate, then what is the firm's weighted average cost of capital?

WACC please show all steps and formulas