You Were Hired as a Consultant to Quigley Company,whose Target

You were hired as a consultant to Quigley Company,whose target capital structure is 35% debt,10% preferred,and 55% common equity.The interest rate on new debt is 6.50%,the yield on the preferred is 6.00%,the cost of retained earnings is 14.75%,and the tax rate is 40%.The firm will not be issuing any new stock.What is Quigley's WACC? Round final answer to two decimal places.Do not round your intermediate calculations.

A) 12.19%
B) 8.36%
C) 9.17%
D) 10.08%
E) 8.87%