Ch$.12$: WACC using DGM

A computer hardware company has a target capital structure of $65$ percent common stock, $10$ percent preferred stock, and $25$ percent debt. The company currently just paid a dividend of $$3\mathrm{.}25,$ which they plan to grow $3\%$ indefinitely. Their stock price is currently $$95.$ The cost of preferred stock is $6$ percent, and the before$-$tax cost of debt is $5$ percent. The relevant tax rate is $20$ percent. What is the company's weighted average cost of capital WACC$)$

$\begin{array}{cc}\%in\text{C}\text{o}\text{m}\text{m}\text{o}\text{n}\text{S}\text{t}\text{o}\text{c}\text{k}& 65\%\\ \%in\text{P}\text{r}\text{e}\text{f}\text{e}\text{r}\text{r}\text{e}\text{d}\text{S}\text{t}\text{o}\text{c}\text{k}& 10\%\\ \%in\text{D}\text{e}\text{b}\text{t}& 25\%\\ \text{R}\text{e}\text{c}\text{e}\text{n}\text{t}\text{D}\text{i}\text{v}\text{i}\text{d}\text{e}\text{n}\text{d}& \text{\$}3\mathrm{.}25\\ \text{D}\text{i}\text{v}\text{i}\text{d}\text{e}\text{n}\text{d}\text{G}\text{r}\text{o}\text{w}\text{t}\text{h}\text{R}\text{a}\text{t}\text{e}& 3\%\\ \text{S}\text{t}\text{o}\text{c}\text{k}\text{P}\text{r}\text{i}\text{c}\text{e}& \text{\$}95\\ \text{C}\text{o}\text{s}\text{t}of\text{P}\text{r}\text{e}\text{f}\text{e}\text{r}\text{r}\text{e}\text{d}\text{S}\text{t}\text{o}\text{c}\text{k}& 6\%\\ \text{B}\text{e}\text{f}\text{o}\text{r}\text{e}-\text{t}\text{a}\text{x}\text{C}\text{o}\text{s}\text{t}of\text{D}\text{e}\text{b}\text{t}& 5\%\\ \text{T}\text{a}\text{x}\text{R}\text{a}\text{t}\text{e}& 20\%\end{array}$

Note: Enter your number with three decimals and without the percentage. That is$,$ if your answer is $20\mathrm{.}28\%,$ enter $203.$