You are trying to estimate out how much it costs Aptiv (APTV) to raise capital. They figure they can borrow money at a rate of 3.713%. The appropriate tax rate is 10%. The preferred stock carries a $5.50 dividend and is priced at $157.93 per share. The common stock has a beta of 2.16. Assume a 1% risk free rate and an 8% market risk premium. If they use 11% debt financing, 1% preferred financing and 88% common stock financing, what is the weighted average cost of capital