An analyst is trying to determine the capital structure for Big Dawg Incorporated. After some careful research, the analyst knows the following: --Big Dawg has 1.60 million shares of common stock trading today at $20.45 per share. The book value of Big Dawg common stock is $14.00 million. The cost of equity for the firm is estimated to be 14.00%. --Big Dawg has $8.00 million in long-term debt on its balance sheet. The debt is trading at 91.00% of face value in the market with a yield to maturity of 8.00%. The tax rate facing the firm is 40.00%. What is the WACC for Big Dawg Incorporated? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) Show Hint