Baker's footwear has 8000 shares of common stock outstanding at a price per share of $ 64 and a rate of return of 15 percent. The firm has 2000 shares of 6 percent preferred stock outstanding at a price of $ 54 a share. The preferred stock has a par value of $ 100. The outstanding debt has a total face value of $100000 and a market price equal to 102 percent of face value. The yield to maturity on the debt is 9.36 percent. What is the firm's weighted average cost of capital if the tax rate is 35 percent?