Calculate the weighted-average cost of capital for a firm with the following capital, weight, and cost of capital for the individual sources.
|
Capital Source
|
Percent of Capital
|
Cost of Individual Source ($)
|
|
Preferred stocks
|
17
|
12.77
|
|
Common stocks
|
60
|
15.56
|
|
Long-term debt
|
23
|
10.57
|