Cream and Crimson Foods has a target capital structure of calling for 40.00 percent debt, 5.00 percent preferred stock, and 55.00 percent common equity (retained earnings plus common stock). Its before-tax cost of debt is 10.00 percent. The tax rate is 40.00%. Its cost of preferred stock is 11.18%. Its cost of common equity is 14.93%.
Find the WACC for Cream and Crimson Foods?