You were hired as a consultant to Cooper Company, whose capital structure is 40% debt, 10% preferred stock, and 50% common equity. The before-tax cost of debt is 7.00%, the cost of preferred is 7.50%, and the cost of retained earnings is 13.25%. The current corporate tax rate is 28%. The firm will not be issuing any new stock. What is its weighted average cost of capital (WACC)?