Here is some information about Stokenchurch Inc.: Beta of common stock = 1.3 Treasury bill rate = 4% Market risk premium = 6.6% Yield to maturity on long-term debt = 6% Book value of equity = $350 million Market value of equity = $700 million Long-term debt outstanding = $700 million Corporate tax rate = 21% What is the companys WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)