Canyon Buff Enterprise has a cost of equity of 7% and a cost of debt of 3%. CBE also has $5 million of equity and $20 million of debt. CBEs asset cost of capital is _____?

Instruction: Type your answer in the unit of percentage point, and round to three decimal places. E.g., if your answer is -0.0106465 or -1.06465%, should type ONLY the number -1.065, neither -0.0106465, -0.0106, nor -1.065%, because I already have percentage sign at the end of the problem. Otherwise, Blackboard will treat it as a wrong answer.