A company has $391 million of debt and 68 million common shares outstanding worth $11.7 each. You estimate that the company could issue new debt at an interest rate of 3.9%. The companys tax rate is 15.3%, beta is 1.7, the risk-free rate is 1.0% and the expected market return is 6.3%. What is the companys weighted average cost of capital (WACC)?