Carla Vista Co. has a capital structure, based on current market values, that consists of 25 percent debt, 15 percent preferred stock, and 60 percent common stock. If the returns required by investors are 9 percent, 10 percent, and 15 percent for the debt, preferred stock, and common stock, respectively, what is Carla Vistas after-tax WACC? Assume that the firms marginal tax rate is 40 percent. (Round final answer to 2 decimal places, e.g. 15.25%.)

After tax WACC

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