Wayco Industrial Supply has a pre-tax cost of debt of 5.6 percent, a cost of equity of 11.3 percent, and a cost of preferred stock of 9.0 percent. The firm has 220,000 shares of common stock outstanding at a market price of $30 a share. There are 25,000 shares of preferred stock outstanding at a market price of $50 a share. The bond issue has a face value of $550,000 and a market quote of 101.2. The company's tax rate is 35 percent. What is the firm's weighted average cost of capital?