Crane Industries has $8$ percent coupon bonds outstanding. These bonds have a market price of $$954\mathrm{.}41,$ pay interest semiannually, and will mature in six years. The tax rate is $35$ percent. The common stock of Crane Industries has a beta of $1\mathrm{.}6$ and the market risk$-$free rate is $4$ percent and the expected return on the market is $9$ percent.

In addition to common stock, Crane has $600,000$ preferred shares outstanding that pay a quarterly dividend of $$0\mathrm{.}40$ per share and are currently trading for $$20\mathrm{.}00$ a share. The company's outstanding bonds have a face value of $$236,795,507.$ There are $2\mathrm{.}0$ million shares of common stock outstanding with a current market price of $$96\mathrm{.}00$ per share.

Compute the WACC for Crane Industries. $($Round intermediate calculation to $4$ decimal places, e$.$g$.15\mathrm{.}1253$ and round final answer to $2$ decimal places, e$.$g$.15\mathrm{.}25\%.)$

WACC $\%$