Wells Fargo Securities (WFC) maintains a capital structure of 60% equity, 20% preferred, and 20% bonds. Wells Fargo's cost of equity = 11%, cost of preferred = 8%, and before tax cost of debt = 5.8%. The corporate tax rate for Wells Fargo = 21%. What is the WACC for Wells Fargo?

Group of answer choices 8.65 % 9.12 % 8.25 % 10.14 %