ABC, Inc.'s target capital structure is 30% debt, 45% preferred, and 25% common equity. The before-tax cost of debt (R_D) is 6.6%, the cost of preferred stock (R_P) is 11.41%, and the cost of common stock (R_E) is 21.89%. If the tax rate is 24%. What is the WACC?

Enter your answer as a percentage and round off to two decimal points. Do not enter % in the answer box.