Given the following information, calculate the weighted average cost of capital for Skelly Corp

Given the following information, calculate the weighted average cost of capital for Skelly Corp.

Percent of capital structure:

Debt............................       25%

Preferred stock...........       15

Common equity..........       60

Additional information:

Bond coupon rate...............................        14%

Bond yield to maturity........................        13%

Dividend, expected common..............    $  5.00

Dividend, preferred............................    $12.00

Price, common....................................    $35.00

Price, preferred...................................    $49.00

Flotation cost, preferred......................    $  2.50

Growth rate.........................................          6%

Corporate tax rate...............................        35%