Here is some information about Stokenchurch Inc.:

Beta of common stock = 1.2

Treasury bill rate = 4%

Market risk premium = 7.5%

Yield to maturity on long-term debt = 6%

Book value of equity = $440 million

Market value of equity = $880 million

Long-term debt outstanding = $880 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.)