Here's some info on a company: Debt 50,000 bonds outstanding with a par value of $1000 and a market price of $800 Equity 2 million shares outstanding with a $30 market price and a $1 par value Dividend growth rate (constant): 5% Bonds' YTM: 6% Recent dividend: $2.40 Corporate tax rate : 40% Current common stock price: $30 Return on T-Bills: 10% What is the company's weighted average cost of capital? Present answer as a percentage to two decimals