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In a hypothetical company, the market value of equity ( E ) is 3 7 2 million dollars, the market value of debt ( D

In a hypothetical company, the market value of equity (E) is 372 million dollars, the market value of debt (D) is 73 million dollars, and the market value of preferred stock (P) is 64 million dollars. The cost of equity (re) is 8.04%, the after-tax cost of debt (rd) is 4.80%, and the cost of preferred stock (rp) is 6.34%. Calculate the Weighted Average Cost of Capital (WACC). Do not round intermediate calculations. Enter your answer in percent, rounded to the nearest 0.01%.

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