Babumon has no debt and its shareholders require a return of 12%. There are 150 million shares outstanding, and the shares trade for $8. Babumon has announced a stock repurchase. It intends to buy 80.402 million shares at a price of $9 per share. The repurchase will be debt financed. After the repurchase, the companys debt-to-equity ratio will be 1.2 and it will maintain that ratio in perpetuity. What is the WACC with the new capital structure? The cost of debt is 5% and the tax rate is 35%. Express your answer in percentage form.

WACC = %