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You are trying to estimate out how much it costs Aptiv (APTV) to raise capital

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You are trying to estimate out how much it costs Aptiv (APTV) to raise capital. They figure they can borrow money at a rate of 3.4%. The appropriate tax rate is 12%. The preferred stock carries a $5.50 dividend and is priced at $141.60 per share. The common stock has a beta of 2.25. Assume a 1% risk free rate and an 7% market risk premium. If they use 11% debt financing, 1% preferred financing and 88% common stock financing, what is the weighted average cost of capital?