Given the following information: Percent of capital structure: Preferred stock 35 % Common equity 45 Debt 20 Additional information: Corporate tax rate 35 % Dividend, preferred $ 6.00 Dividend, expected common $ 2.50 Price, preferred $ 97.00 Growth rate 6 % Bond yield 9 % Flotation cost, preferred $ 10.50 Price, common $ 84.00 Calculate the weighted average cost of capital for Digital Processing Inc. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)