You were hired as a consultant to Quigley Company, whose target capital structure is 35% debt, 10% preferred, and 55% common equity. The interest rate on new debt is 6.50%, the yield on the preferred is 6.00%, the cost of retained earnings is 10.50%, and the tax rate is 25%. The firm will not be issuing any new stock. What is Quigley's WACC? Round final answer to two decimal places. Do not round your intermediate calculations. O 6.11% 9.37% 6.73% 6.97% 8.08%

You were hired as a consultant to Quigley Company, whose target capital structure is 35% debt, 10% preferred, and 55% common equity. The intereat rate on new debt is 6.50%, the yield on the preferred is 6.00%, the cost of retained eamings is 10.50%, and the tax rate is 25%. The firm will not he issuring any new stock: What is Quigley's WACC? Round final answer to two decimal places. Do not round your intermediate calculations. 6.11% 937% 6.73% 6.97% 8.08%