Consider a company financed with 0.2 equity, 0.2 preferred stock, and the remaining debt subject to a corporate tax rate 30% If the required rate of return on the debt is 3.28%, on the preferred stock is 8.28% and on the common stock is 11.11%, what is the weighted average cost of capital for this company? Round the answer to two decimals in percentage form. Please write % sign in the units box.