Consider the following information for Federated Junkyards of America. - Debt: $84,000,000 book value outstanding. The debt is trading at 86% of book value. The yield to maturity is 7%. - Equity: 3,400,000 shares selling at \$51 per share. Assume the expected rate of return on Federated's stock is 16%. - Taxes: Federated's marginal tax rate is Tc=0.21. Calculate the weighted-average cost of capital (WACC). Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places