Hammond/Lauderdale Corporation uses no preferred stock. Their capital structure uses 44% debt (hint: the rest is equity). Their marginal tax rate is 22.81%. Their cost of equity is 16.9%, and their before-tax cost of debt is 7.47%. What is Hammond/Lauderdale's weighted average cost of capital (WACC)? Please enter without using the "%", but with two decimal places (in other words if you calculate 9.87%, then just enter 9.87)