Here is some information about Stokenchurch Inc.:

Beta of common stock = 1.4

Treasury bill rate = 4%

Market risk premium = 6.7%

Yield to maturity on long-term debt = 10%

Book value of equity = $360 million

Market value of equity = $720 million

Long-term debt outstanding = $720 million

Corporate tax rate = 35%

What is the companys WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

WACC= ?%