Leapinge Ltd has asked you to estimate the WACC for their company. You have collected the following information:

The return on risk-free Australian Government Bonds is 3% p.a.

Leapinge Ltd has 39,000,000 shares outstanding and its shares are currently trading at $5.50 per share.

The beta of Leapinge is 1, and the expected return on the market is 13%.

Leapinge Ltd also has $245 million in corporate bonds. These bonds have a variable interest rate which is currently 8.8% compounded annually.

The company faces a tax rate of 35%.

Calculate the Weighted Average Cost of capital for Leapinge Ltd. Enter your answer in a decimal format to six decimal places (0.123456 not 12.3456%)