Problem: A company's pre-tax cost of debt is 10%. Their preferred stock pays a $10 dividend and sells for $100. Common stock is selling for $50 and the next expected dividend will be $3. The dividend growth rate on common stock is 8%. The company's tax rate is 30% and their capital structure is:
Debt: 50%
P.S.: 10%
C.S.: 40%
What is the company's weighted average cost of capital?