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 25 25?% ?debt, 10 10?% preferred? stock, and 65 % 65% common stock. The cost of financing with retained earnings is 15 15?%, the cost of preferred stock financing is 11 11?%, and the? before-tax cost of debt financing is 11 11?%. Calculate the weighted average cost of capital ?(WACC?) given a tax rate of 25 %. 25%.