McGee Company’s balance sheet consists of the following: $630 million and $290 million. Its current after-tax cost of debt is 7% and its cost of equity is 11%. You have been analyzing various market factors and have estimated that the market value of its debt is currently $680 million and the market value of the equity is $590 million. Furthermore, you believe that given current market conditions and the existence of flotation costs, the marginal after-tax cost of debt would be 120 basis points higher than the existing after-tax cost of debt and the marginal cost of equity would be 150 basis points higher. 

What is the difference in the company's Weighted Average Cost of Capital (WACC) based on the market-based data and the book-value data? Subtract the book value WACC from the market value WACC and present your answer in percentage terms, rounded to decimal places (e.g., 1.23%].