Here is some information about Stokenchurch Inc: Beta of common stock = 21 Treasury bill rate=4% Market risk premium = 8.4% Yield to maturity on long-term debt = 7% Book value of equity = $530 million Market value of equity = $1,060 million Long-term debt outstanding = $1,060 million Corporate tax rate = 21% What is the company's WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) WACC