You are given the following information concerning Parrothead Enterprises: Debt: 10,000 6.9 percent coupon bonds outstanding, with 15 years to maturity and a quoted price of 104. These bonds pay interest semiannually. Common stock: 275,000 shares of common stock selling for $68.50 per share. The stock has a beta of .85 and will pay a dividend of $3.25 next year. The dividend is expected to grow by 5 percent per year indefinitely. Preferred stock: 8,000 shares of 4.9 percent preferred stock selling at $94 per share. Market: 12 percent expected return, risk-free rate of 3.5 percent, and a 35 percent tax rate. Calculate the WACC for Parrothead Enterprises.

What has me lost is the cost % of the preferred stock. Thanks for the help.