Bean Pharmaceuticals has $1,000,000$ shares of common stock with a market price of $$35$ per share, $225,000$ shares of preferred stock with a market price of $$98$ per share, and $10,000$ bonds outstanding which are selling in the market at $97\mathrm{.}25$ percent of par. The company needs new capital of $$12$ million to expand its asset base. It has calculated that the after$-$tax cost of new equity is $12\mathrm{.}50\%$ and the cost of new preferred stock is $9\mathrm{.}4\%.$ The company$$s bonds are yielding $8\%$ in the market. Corporate tax rate is $34\%.$

What is the weighted average cost of capital? $(11\mathrm{.}3$ is incorrect$)$

A$.$

$11\mathrm{.}3\%$

B$.$

$10\mathrm{.}4\%$

C$.$

$12\mathrm{.}1\%$

D$.$

$10\mathrm{.}8\%$

E$.$

$9\mathrm{.}7\%$

F$.$

$11\mathrm{.}7\%$