You were hired as a consultant to XYZ Company, whose target capital structure is 28% debt, 10% preferred, and 62% common equity. The interest rate on new debt is 6.20%, the yield on the preferred is 5.40%, the cost of common from retained earnings is 15.65%, and the tax rate is 32.00%. The firm will not be issuing any new common stock. What is XYZ's WACC? Round your answer to two decimal places. For example, if your answer is $345.6671 round as 345.67 and if your answer is .05718 or 5.7182% round as 5.72. Group of answer choices 8.57% 11.42% 11.20% 13.94% 9.25%