Adjusted WACC Hollydale's will issue an additional 5,000 bonds with the help of an investment banker. The bonds will be semiannual bonds with a maturity of 25 years. The coupon rate will be 10.5%, and the par value $1,000. These bonds will be sold at $1.276.12 in the market, but the investment banker will receive a 55% commission on the sold bonds. The original bonds have 13 years to maturity and are semiannual, with a coupon rate of 9.5% and a price of $1,312 84 There are 13,000 bonds outstanding from this senior issue. What is the new cost of capital for Hollydale's if the company still has 530,000 shares outstanding selling at $20.98 with an annual dividend growth rate of 5.0% and the last annual dividend of $1.60? The tax rate remains at 15%. What is the adjusted WACC for Hollydale's if the corporate tax rate is 15%? % (Round to two decimal places.)