You were hired as a Consultant for Delta State's Laundry Services, whose targeted capital structure is 35% debt, 10% preferred stock, and 55% common equity. The interest rate on new debt is 6.5%, the yield on preferred stock is 6%, the cost of retained earnings is 11.25%, and the tax rate is 40%. The firm will not be issuing any new stock. What is Delta State's Laundry Services WACC?