Electric Quadrise (EQ) pl a new energy company has a capital structure that is comprised of 60% equity and 40% debt. In order to finance several capital projects, EQ will raise 1.6m through issuing equity and debt in line with its existing capital structure. The debt will be issued at par with a 9% coupon and flotation costs of the equity issue will be 3.5%. EQ's common stock is currently trading at 21.40/share and the last dividend was 1.80/share and is expected to grow at 7% forever. The company tax rate is 40%. What is the WACC of EQ based on the new capital structure?