Madison Motors has provided you the following information:

• The yield to maturity on their newly issued debt is 7.5%
• Their common stock has an equity beta of 1.5
• T-Bills are returning 2.4%, and the Dow Jones Industrial market index is returning 6.8%.
• The company's preferred stock is selling for $22.35 and pays an annual dividend of $2.41
• The company's capital structure is composed of 55% common equity, 40% debt and the remainder in preferred stock.
• The company's tax rate is 35%

Based on the information given, what is Madison Motors' WACC?

Enter your answer as a decimal with a leading zero and 4 decimal places of precision (i.e 0.1234)