Given: Debt rate for this firm = 7% Tax rate = 29% Cost of Preferred Stock = 11.1% Cost of Internal Common Equity = 10.1% Cost of External Common Equity = 9.7% The firm's Balance Sheet has the following entries. It can be assumed that these numbers accurately reflect the firm's optimal capital structure, Long-Term Assets $1,000,000 Long-Term Debt 400,000 Short-Term Debt 100,000 Preferred Stock 200,000 Retained Earnings 150,000 Common Stock 250,000 Calculate the WACC (expressed as a percentage with one decimalie xxx%)