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Western Electric has 23,000 shares of common stock outstanding at a current price per share of $57 and a rate of return of 14.2 percent.

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Western Electric has 23,000 shares of common stock outstanding at a current price per share of $57 and a rate of return of 14.2 percent. The firm has 6,000 shares of 7 percent preferred stock outstanding at a price of $48 a share with a rate of return of 14.583 percent. The outstanding debt has a total face value of $350,000 and currently sells for 102 percent of face value. The yield to maturity on the debt is 8.49 percent. What is the firm's weighted average cost of capital if its tax rate is 21 percent? 13.44% 14.19% 14.47% 1289% 14.92%

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