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 6.25%, the yield on the preferred is 10.96%, the cost of retained earnings is 14.78 %, and the tax rate is 31%. The firm will not be issuing any new stock. What is Quigley's WACC