Whirlaway Racing Corp. has a pre-tax cost of debt of 7% and debt represents 30% of the market value of the company. It has preferred stock with a cost of 8.2% representing 15% of the market value of the company. It also has common stock currently trading at $43 per share and on which it paid a $1.50 dividend last year. Expectations are that the dividend will grow a rate of 9% annually. Whirlaway's tax rate is 21%. What is Whirlaway's weighted average cost of capital? Round all calculations to four digits