Johnny Cake Ltd. has 10 million shares of stock outstanding selling at $21 per share and an issue of $50 million in 10 percent annual coupon bonds with a maturity of 16 years, selling at 91.0 percent of par. Assume Johnny Cakes weighted-average tax rate is 34 percent, its next dividend is expected to be $3 per share, and all future dividends are expected to grow at 5 percent per year, indefinitely.

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

WACC%