Johnny Cake Ltd$.$ has $10$ million shares of stock outstanding selling at $$22$ per share and an issue of $$50$ million in $8$ percent annual coupon bonds with a maturity of $18$ years, selling at $90\mathrm{.}5$ percent of par. Assume Johnny Cake$$s weighted$-$average tax rate is $21$ percent, its next dividend is expected to be $$3$ per share, and all future dividends are expected to grow at $4$ percent per year, indefinitely.

What is its WACC? $($Do not round intermediate calculations. Round your final answer to $2$ decimal places.$)$