Consider the following information for Federated Junkyards of America. - Debt: $67,000,000 book value outstanding. The debt is trading at 88% of book value. The yield to maturity is 8%. - Equity: 1,700,000 shares selling at $34 per share. Assume the expected rate of return on Federated's stock is 17%. - Taxes: Federated's marginal tax rate is TC=0.21. Calculate the weighted-average cost of capital (WACC). (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)