Capital Co. has a capital structure, based on current market values, that consists of 37 percent debt, 11 percent preferred stock, and 52 percent common stock. If the returns required by investors are 12 percent, 13 percent, and 15 percent for the debt, preferred stock, and common stock, respectively, what is Capitals after-tax WACC? Assume that the firms marginal tax rate is 40 percent. (Round intermediate calculations to 4 decimal places, e.g. 1.2514 and final answer to 2 decimal places, e.g. 15.25%.)

After tax WACC

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