CoffeeStop primarily sells coffee. It recently introduced a premium coffee-flavoured liqueur. Suppose the firm faces a tax rate of 35% and collects the following information. If it plans to finance 11% of the new liqueur-focused division with debt and the rest with equity, what WACC should it use for its liqueur division? Assume a cost of debt of 4.6%, a risk-free rate of 2.9% and a risk premium of 6.3%. % Equity % Debt Beta 0.63 CoffeeStop 96% 4% BF Liqueurs 0.22 89% 11% The weighted average cost of capital is %. (Round to two decimal places.)