Blammo, Inc. has a target capital structure of 40 % debt and the reminding percent from equity. The firm is planning to invest in a project that will necessitate raising new capital. New debt will be issued at a before-tax interest rate of 7.1%. If the required rate of return on the firm's stock is 20.9% and its marginal tax rate is 37%, the firm's weighted average cost of capital is % (Round to 2 decimal places).