Consider a firm that finances projects with retained earnings (equity) and debt while maintaining a debt-to-equity ratio of 2/3. The firm's stock is currently trading at $50 per share on the NASDAQ and does not pay a dividend. The firm has 1.5 million shares outstanding. The firm's beta is currently 1.7. The firm has $100 million of sales and operating expenses of 75% of sales. The expected return on the market is 13% and the risk free rate is 3%. The firm has a constant borrowing rate of 7.1429%. Earnings are taxed at the corporate rate of 30%. What is the firm's weighted average cost of capital? Answer in decimal form