Titan Mining Corporation has 14 million shares of common stock outstanding, 9000,000 shares of 9 percent preferred stock outstanding and 210,000 ten percent semiannual bonds outstanding, par value $1,000 each. The common stock currently sells for $34 per share and has a beta of 1.15, the preferred stock currently sells for $80 per share, and the bonds have 17 years to maturity and sell for 91 percent of par. The market risk premium is 11.5 percent, T-bills are yielding 7.5 percent, and the firm's tax rate is 32 percent. Please calculate the weighted average cost of capital. price = Dividerd next y / (cost of Equity Cost of Equity = Dividerd next y / price + GR