You have been provided with the following information for Keon Ltd. which has a corporate tax rate of 25%: 1. Common shares Common shares represent 50% of the company’s capital structure and are currently selling for $45 per share. The shares last paid a dividend of $3, and dividends are expected to grow at the constant rate of 4%. Flotation costs are estimated at 5% 2. Preferred shares Preferred shares represent 10% of the company's capital structure and are currently selling for $65.The shares last paid a fixed dividend of $5. Flotation costs are estimated at 3% 3. Bonds The company’s 9% bonds represent 40% of the company's capital structure and currently yield 8%. Flotation costs are estimated at 2.5%

Required: Calculate the company’s weighted average cost of capital (Use 4 decimal places)