Here is some information about Stokenchurch Inc.: Beta of common stock =1.2 Treasury bill rate =4% Market risk premium =6.5% Yield to maturity on long-term debt =7% Book value of equity =$340 million Market value of equity =$680 million Long-term debt outstanding =$680 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.)