The Tyler Oil Company's capitalstructure is as follows:

Debt15%Preferred stock20Common equity65

The aftertax cost of debt is 12 percent; the cost of preferred stock is 15 percent; and the cost of common equity (in the form of retained earnings) is 18 percent.

Calculate Tyler Oil Company's weighted average cost of capital in a manner similar toTable 11-1.(Round the final answers to 2 decimal places.)

Weighted CostDebt(K_d)%Preferred stock(K_p)Common equity(K_e)(retained earnings)Weighted average cost of capital(K_a)%