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Here is some information about Stokenchurch Incorporated: Beta of common stock =1.7 Treasury bill rate =4% Market risk premium =8.0% Yield to maturity on long-term

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Here is some information about Stokenchurch Incorporated: Beta of common stock =1.7 Treasury bill rate =4% Market risk premium =8.0% Yield to maturity on long-term debt =9% Book value of equity =$490 million Market value of equity =$980 million Long-term debt outstanding =$980 million Corporate tax rate =21% What is the company's WACC? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places

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