Unsecured Debentures with a face value of $1,000 and an annual coupon rate of 9%, and eight years left to maturity have a market price of $1,119, based upon their approximate yield to maturity. They are maintained on the books at $300,000. First Mortgage Bonds with a face value of $1,000 and an annual coupon rate of 6%, and eight years to maturity, are maintained on the books at $250,000 and have an approximate yield to maturity of fifty basis points above the coupon rate. 500 Zero Coupon bonds with a par value of $1,000 are priced to yield an effective yield to maturity of 9% and have ten years to maturity. They are carried on the books at $500,000. 250,000 shares of $10 par value Common stock is selling for $9.00 per share and pays a 50 per share dividend, which is expected to grow at the rate of 6% per year indefinitely. 8% Preferred stock with a $100 par value is selling for $96 per share. There are presently 50,000 shares outstanding. What is the company's weighted after-tax cost of capital, given a corporate tax rate of 21%