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12,Western Electric has 29,500 shares of common stockoutstanding at a price per share of $74 and a rate of return of13.25 percent. The firm has 7,050 shares of 7.30 percent preferredstock outstanding at a price of $92.50 per share. The preferredstock has a par value of $100. The outstanding debt has a totalface value of $389,000 and currently sells for 108.5 percent offace. The yield to maturity on the debt is 7.93 percent. What isthe firm's weighted average cost of capital if the tax rate is 39percent?
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