A firm has a capital structure with $39 million in equity and $73 million of debt. The cost of equity capital is 15.09% and the pretax cost of debt is 1.27%. If the marginal tax rate of the firm is 38.32% compute the weighted average cost of capital of the firm.

Enter your answer in percent and round to the nearest one-hundredth of a percent. Do not include the percent sign (%).