Johnny Cake Ltd$.$ has $8$ million shares of stock outstanding selling at $$22$ per share and an issue of $$40$ million in $10$ percent annual coupon bonds with a maturity of $17$ years, selling at $94\mathrm{.}0$ percent of par. Assume Johnny Cake's 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 and round your final lanswer to $2$ decimal nlaces.$)$