Blues, Ine, is an MNC located in the United Stotes, Blues would the to estimate ita weighted averege cost of capital (WACC). On averbge, bonda issued by Blues yield 22 percent. Currently. Treasury security rates are 1 percent. Furthermore, Elues' stock han a beta of 1.5 , and the return on the Wilshire sooo stock index is expected to be 11 percent. Blues' target capital structuce is 30 percent debt and 70 percent equity. If Blues is in the 35 percent tax brocket, what is its weighted overage cost of capitall Do not cound intermediate calculations, Round your answer to two decimal places