You are given the task of calculating the cost of capital of Woodenheads Company. The companys tax rate is 40%. The company has 100,000 common shares and 10,000 preferred shares outstanding. Each preferred share has a par value of $60, and is currently priced at 90% of the par value. The preferred shares are paying dividends that total 5% of the par value. You estimate that the beta of the common stock is 1.5. The equity market risk premium is estimated to be 5%, and the risk-free rate is 5%. The company has just paid a dividend of $2 per share. You expect that the dividends will grow at a rate of 15% until Year 4. After Year 4, the dividends are expected to grow at a constant rate of 5% forever. You decide to employ the CAPM approach to calculate the cost of equity. The company has two different debt issues that are outstanding. The first issue consists of 1,000 semi-annual coupon bonds. Each bond has a face value of $1,000. The annual coupon rate is 10%, and the bonds are currently trading at a YTM that equals 12%. The bonds will mature 10 years from now. The second issue consists of 1,000 zero coupon bonds. Each bond has a face value of $1,000 and will mature 15 years from now. The zero coupon bonds are trading at 50% of their face value. Using the information provided above, calculate the weighted average cost of capital of Woodenheads Company. Please show all your work and calculate all amounts precisely. Your final answer can be in percentage terms, rounded to two decimal points.