Given the following information on Ke-Ma-Gen Ltd., what is its WACC? Retain as many decimal places as possible in your intermediate answers, and round your final answer (in percentage) to two decimal places.

Debt:

Number of bonds = 6000

Par value = $1000

Coupon rate = 8% (semi-annual coupons)

Time to maturity = 10 years

Market value = 97.5% of par

Common Equity:

Number of shares outstanding = 1,000,000

Par value = $1

Price per share = $5.00

Dividends per share = $0.70

Preferred Equity:

Number of shares outstanding = 50,000

Price per share = $20

Dividend yield = 5%

Other information:

Tax rate = 35%

Equity beta = 2

Market risk premium = 11%

Risk-free rate = 5%