The capital structure for the Carion Corporation is provided here: Bonds: $1,066,000 Preferred Stock: 263,000 Common Stock: 5,123,000 The company plans to maintain its debt structure in the future. If the firm has an after-tax cost of debt of 4.2%, a cost of preferred stock of 10.7%, and a cost of common stock of 19.5%. What is the firm's weighted average cost of capital? Round your answer to two decimal places.