A firm with 10 million preferred stock, 60 million equity, and 30 million debt, and with 6.3% cost of preferred stock, 10.5% cost of equity, and 3.9% before-tax cost of debt with a tax rate of 40% tax rate, what is the weighted average cost of capital? Answer as percentage to the nearest hundredth of a percentage as in xx.xx and enter without the percentage sign.