Novak lourist corporations preterred shares are at p12 per share, paying annual dividends at a / lo rate, and have flotation costs or 2%. In addition, the company issued $100 par value 5-year bonds paying o annual coupons and a before-tax cost of issuing of 2%. Novak Tourist Corporation's tax rate is 30%. Calculate the company's after-tax cost of preferred shares and cost of debt. (Round answers to 2 decimal places, e.g., 15.75.)