The WACC K. Bell Jewelers wishes to explore the effect on its cost of capital of the rate at which the company pays taxes. The firm wishes to maintain a capital structure of 40​% ​debt, 10​% preferred​ stock, and 50% common stock. The cost of financing with retained earnings is 16​%, the cost of preferred stock financing is 9​%, and the​ before-tax cost of debt financing is 11​%. Calculate the weighted average cost of capital​(WACC​) given a tax rate of
The​ firm's WACC is.......%. ​(Round to two decimal​ places.)