You work for LEARN-more-FINANCE, Inc. (LMR). The company is currently analyzing growth opportunities and the subsequent need for capital. The CEO has asked you to determine an appropriate cost of capital to use in project analysis. The company has 15 million common shares outstanding with each share sells for $12.73 per share. The LMR management is expected to set the next annual dividend at $1.10 per share. The management team expects the future dividends of LMR to grow indefinitely by 3% per year. The stock has a beta of 1.2, the current risk-free rate is 5.5%, and the expected return on the market is 10%. LMR also has 1 million shares of 5% preferred stock outstanding, with these shares selling for $14 per share. The company has 10,000, 10-year, 9.5% bonds outstanding which are currently selling at 99.00. LMR is in the 21% tax bracket and expects to be able to take full advantage of any interest tax shields. What is the firms WACC?