Footnote $8$ of AT&T$\text{'}$s $10-$K reports that the market value of its debt approximates its book value of $$67,167$ million. Assume that AT&T$\text{'}$s after tax cost of debt is $2\mathrm{.}81\%.$ Using this information, estimate AT&T$\text{'}$s weighted average cost of capital.

Round your computation for the intrinsic value of equity to nearest million; then do not round until your final answer. Round final answer to one decimal place.