Golden Gate Construction Associates, a real estate developer and building contractor in San Francisco, has two sources of long$-$term capital: debt and equity. The cost to Golden Gate of issuing debt is the after$-$tax cost of the interest payments on the debt, taking into account the fact that the interest payments are tax deductible. The cost of Golden Gate$$s equity capital is the investment opportunity rate of Golden Gate$$s investors, that is$,$ the rate they could earn on investments of similar risk to that of investing in Golden Gate Construction Associates. The interest rate on Golden Gate$$s $$95$ million of long$-$term debt is $8$ percent, and the company$$s combined federal and state income tax rates amount to $30$ percent. The cost of Golden Gate$$s equity capital is $14$ percent. Moreover, the market value $($and book value$)$ of Golden Gate$$s equity is $$135$ million.

Required:

Calculate Golden Gate Construction Associates$$ weighted$-$average cost of capital.

Note: Round your answer to $1$ decimal place. $($i$.$e$.,\mathrm{.}123$ should be entered as $12\mathrm{.}3)$