LeapingeLtd 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.
• LeapingeLtd has 59,000,000 shares outstanding and its shares are currently trading at $5.50 per share.
• The beta of Leapingeis 0.6, and the expected return on the market is 13%.
• LeapingeLtd also has $429 million in corporate bonds. These bonds have a variable interest rate which is currently 8% compounded annually.
• The company faces a tax rate of 35%.

Calculate the Weighted Average Cost of capital for LeapingeLtd. Enter your answer in a decimal format to six decimal places (0.123456not12.3456%)