Marie Corp. has $1,200 in debt outstanding and $2,600 in common stock (and no preferred stock). Its marginal tax rate is 40%. Marie's bonds have a YTM of 5.50%. The current stock price (Po) is $46. Next year's dividend is expected to be $2.20, and it is expected to grow at a constant rate of 7% per year forever. The company's W.A.C.C. is ____%.