Titan Mining Corp. has 8.5 million shares of common stock and 135,000 bonds outstanding. The common stock is selling for $34 per share and the estimated cost of equity is 13.4%. The bonds, currently selling for 114% of par, are BB-rated with 10 years to maturity. Similar risk bonds are trading at a default spread of 2.06%. The yield on T-bonds is 4%. Titan Minings corporate tax rate is 35 percent. What is Titans weighted average cost of capital?