$($Estimated time allowance: $9$ minutes$)$ Compute the weighted averaged cost of capital $($WACC$)$ for the following company.

The company finances $20\%$ of its assets with debt, $30\%$ with preferred equity $($stock$),$ and the rest with common equity. The following is some partial information about the firm's capital structure:Click here for a formatted shell excel file.

Debt: $5$ years ago, company issued a $20-$year corporate bond. Currently these bonds have a yield to maturity of $8\%$; the bonds make semiannual payments.

Common stock: Shares of common are currently selling for $$40$ per share, have a par value of $$10.$ The stock has a beta of $1\mathrm{.}10.$ The cost of common equity is $18\%.$

Preferred stock: $9\mathrm{.}9\%-$preferred stock selling at $$70$ per share. Par value per share of preferred is $$80.$

The tax rate is $40\%.$

For your answer, use percentage format and round to the ONE decimal. Do not enter $\%$ sign. If your final calculation results in $0\mathrm{.}24576$ then enter $24\mathrm{.}6$; if your final calculation results in $0\mathrm{.}04233$ then enter $4\mathrm{.}2$; if your final calculation results in $0\mathrm{.}20$ then enter $20\mathrm{.}0$ ;

The weighted average cost of capital $($WACC$)$ is