An all-equity firm has a cost of equity of 9.25% and expects its EBIT will be $650,000 every year forever. The firm is considering borrowing $1,750,000 and using the proceeds to repurchase shares. Assume all the Modigliani and Miller (M&M) assumptions are satisfied. According to M&M Proposition I without taxes, what would the firm's WACC be after the capital restructuring? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit the % sign in your response. For example, an answer of 15.39% should be entered as 15.39. Numeric Response