You have been given the task of calculating the Weighted Average Cost of Capital for Funck's Fantastic Frisbees (FFF).

You have been provided the following information:

• FFF's capital structure is composed of 30% debt, 50% common equity from retained earnings, and 20% preferred equity
• FFF's corporate tax rate is 40%
• The yield to maturity on FFF's bonds is 8%
• The company's cost of internal equity is 12.2%
• The company's preferred stock pays a dividend of $1.58 and is currently priced at $17.75

Calculate the company's WACC, and enter your answer as a decimal with a leading zero and 4 decimal places of precision (i.e. 0.1234)