Here is some information about Stokenchurch Inc.: Beta of common stock - 2.2 Treasury bill rate=4% Market risk premium = 8.5% Yield to maturity on long-term debt = 8% Book value of equity - $540 million Market value of equity - $1,080 million Long-term debt outstanding = $1,080 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