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 rounds 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 outstandig = 50,000

Price per share = $20

Divident Yield = 5%

Other information:

Tax Rate= 35%

Equity Beta = 2

Market Risk Premium = 11%

Risk-free Rate = 5%