Caspian Sea Drinks' is financed with 69.00% equity and the remainder in debt. They have 11.00-year, semi-annual pay 5.63% coupon bonds which sell for 97.09% of par. Their stock currently has a market value of $25.88 and Mr Bensen believes the market estimates that dividends will grow at 3.95% forever. Next year's dividend is projected to be $2.30 Assuming a marginal tax rate of 33.00%, what is their WACC (weighted average cost of capital)? Submit Answer format: Percentage Round to 2 decimal places (Example 9 24%, % sign required WWI accept decimal format rounded to 4 decimal places (ex: 0 0924))