Turnbull is considering a project that requires an initial investment of $1,708,000. The firm will raise the $1,708,000. in capital by issuing $750,000 of debt at a before-tax cost of 10.2%, $78,000 of preferred stock at a cost of 11.4%, and $880,000 of equity at a cost of 14.3%. The firm faces a tax rate of 40%. What will be the WACC for this project?

a) 8.46 b) 10.58 c) 10.05 d)12.17