Garcia Company has no debt. Its cost of capital is $10\mathrm{.}6$ percent. Suppose the company converts to a debt$-$equity ratio of $1.$ The interest rate on the debt is $7\mathrm{.}7$ percent. Ignore taxes for this problem. What is its new WACC? THE ANSWER IS NOT $10\mathrm{.}60$

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$