You were hired as a consultant to Quigley Company; whose target capitai structure is 20% debt, 10% preferred, and 70% common equity, The interest, rate on new debt is 8.00%, the yield on the preferred is 6.00%, the cost of retained earnings is 10.25%, 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. a. 7.42% b. 8,38% C. 9.38% d. 8.98% e. 7.03%