Western Electric has 28,000 shares of common stock outstanding at a price per share of $52 and a rate of return of 13.7 percent. The firm has 11,000 shares of 10 percent preferred stock outstanding at a price of $58 a share. The preferred stock has a par value of $100. The outstanding debt has a total face value of $400,000 and currently sells for 107 percent of face. The yield to maturity on the debt is 8.34 percent. What is the firm's weighted average cost of capital if the tax rate is 35 percent?

WACC = %