Micro Spinoffs, Inc., issued 10-year debt a year ago at par value with a coupon rate of 8%, paid annually. Today, the debt is selling at $1,160. The firm’s tax bracket is 35%. Micro Spinoffs also has preferred stock outstanding. The stock pays a dividend of $6 per share, and the stock sells for $50. Micro Spinoffs’s cost of equity is 14%. What is its WACC if equity is 50%, preferred stock is 20%, and debt is 30% of total capital?