Here is some information about Stokenchurch Incorporated: Beta of common stock =1.6 Treasury bill rate =4% Market risk premium =7.9% Yield to maturity on long-term debt =8% - Book value of equity =$480 million Market value of equity =$960 million Long-term debt outstanding =$960 million Corporate tax rate =21% What is the company's WACC? Note: Do not round intermediate calculations. Enter your answer as a percent rounded