1

Here is some information about Stokenchurch Incorporated: Beta of common stock =2.1 Treasury bill rate =4% Market risk premium =8.4% Yield to maturity on long-term debt =7% Book value of equity =$530 million Market value of equity =$1,060 million Long-term debt outstanding =$1,060 million Corporate tax rate =21% What is the company's WACC? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places