Duffy Enterprises has issued common stock, preferred stock, and debt to finance its operation. The table below shows financial information on the firm. 2020 Balance Sheet: Interest bearing debt $532,272.00 $40,749.00 Preferred stock Shareholder equity $750,000.00 Duffy has publicly traded common stock that has a capitalization currently of $1,844,797.00 An analyst has estimated that the cost of debt for Duffy is 8.00%, the cost of the preferred stock is 9.00 %, and the cost of the common equity is 14.00% Duffy has a marginal tax rate of 40.00% What is the cost of capital for Duffy? Submit Answer format: Percentage Round to 2 decimal places (Example 9 24%, % sign required. Wil accept decimal format rounded to 4 decimal places (ex 0.0924))