Here is some information about Stokenchurch Incorporated:

Beta of common stock = 1.3

Treasury bill rate = 4%

Market risk premium = 7.6%

Yield to maturity on long-term debt = 5%

Book value of equity = $450 million

Market value of equity = $900 million

Long-term debt outstanding = $900 million

Corporate tax rate = 21%

What is the companys WACC?

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.