You were hired as a consultant to Clampett oil inspection limited. COIL has a target capital structure of 35% debt, 15% preferred, and 50% common equity. the interest rate on new debt is 6.50%, the yield on the preferred is 6.80%, the cost of retained earnings is 9.50%. COIL pays 30% in federal taxes and an additional 7.5% in state and local taxes. what is the company's WACC?

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