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Hammond/Lauderdale Corporation uses no preferred stock. Their capital structure uses 21% debt (hint: the rest is equity). Their marginal tax rate is 36.43%. Their cost

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Hammond/Lauderdale Corporation uses no preferred stock. Their capital structure uses 21% debt (hint: the rest is equity). Their marginal tax rate is 36.43%. Their cost of equity is 16.21%, and their before-tax cost of debt is 3.84%. 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)

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