ABC, Inc.'s target capital structure is 35% debt, 15% preferred, and 50% common equity. The before-tax cost of debt (Rp) is 3.3%, the cost of preferred stock (Rp) is 12.26%, and the cost of common stock (RE) is 23.73%. If the tax rate is 23%. What is the WACC? Enter your answer as a percentage and round off to two decimal points. Do not enter % in the answer box