If the risk-free rate is 1.2% and the expected market return is 6.1%, what is the WACC of the company with the following characteristics? Answer in percent, rounded to two decimal places. Market value of debt: $764 million Market price of each share: $9 Number of shares outstanding: 96 million Tax rate: 15.4% The average yield on current debt (pre-tax cost of debt): 5.8% Beta: 0.9