Vader Electric's bonds have a book value of $12 million; however, the current market value is 85% of the book value. The cost of new debt is 10%. Vader also has $8 million of preferred shares (market value = to book value) and preferred shareholders require a return of 7.5%. Vader has 1 million shares outstanding that currently trade at $40 and shareholders require a return of 16.5%. The tax rate is 40%. What is Vader's weighted average cost of capital? (Select the closest answer)