The Woodsburg Co. maintains a debt-asset ratio of 0.40 and has a tax rate of 35 percent. The firm does not issue preferred stock. Woodsburg's common stock is currently selling at a market price of $39.956 a share. This year, Woodsburg paid an annual dividend in the amount of $2.54 per share. The dividend growth rate is 2.25 percent. Woodsburg's outstanding bonds have a yield to maturity of 5.50%. What is Woodsburg's weighted average cost of capital?