Mullineaux Corporation has a target capital structure of 46 percent common stock and 4 percent preferred stock, with the remaining percent in debt. Its cost of equity is 8 percent, the cost of preferred stock is 2 percent, and the pretax cost of debt is 5 percent. The relevant tax rate is 33 percent. What is Mullineaux's WACC? dont round. only round the final answer to the 2 decimal places