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Mullineaux Corporation has a target capital structure of 60 percent common stock and 40 percent debt. Its cost of equity is 11.2 percent, and the

Mullineaux Corporation has a target capital structure of 60 percent common stock and 40 percent debt. Its cost of equity is 11.2 percent, and the cost of debt is 5.9 percent. The relevant tax rate is 22 percent.
What is the companys WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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