Western Electric has 42,000 shares of common stock outstanding at a price per share of $38 and a rate of return of 12.3 percent. The firm has 18,000 shares of 6 percent preferred stock outstanding at a price of $86 a share. The preferred stock has a par value of $100. The outstanding debt has a total face value of $540,000 and currently sells for 105 percent of face. The yield to maturity on the debt is 7.92 percent. What is the firm's weighted average cost of capital if the tax rate is 12 percent? WACC = % Allowed attempts: 3 Check