A firm is raising funds by selling a package of equity, debt and preferred stock. The details of the package are: 1) Equity sold for $30 million. Expected perpetual dividends to buyers is $2.25 million per year. 2) Preferred stock sold for $15 million. Expected perpetual dividends to buyers is $0.8 million per year. 3) Debt sold, perpetual risk-less (guaranteed) coupon payments to be $6 million a year and is discounted at a rate of 4.35% per year. Assume no taxes and other Modigliani-Miller assumptions also hold. What is the WACC for the firm? Please express your answer as a percentage. For example, if your answer is 7.32%, then enter 7.32 in the answer box.