Pfd Company has debt with a yield to maturity of 7.4%, a cost of equity of 14.9%, and a cost of preferred stock of 8.9%. The market values of its debt, preferred stock, and equity are $12.6 million, $2.7 million, and $15.1 million, respectively, and its tax rate is 40%. What is this firm's WACC? Note: Assume that the firm will always be able to utilize its full interest tax shield. Pfd's WACC is \%. (Round to two decimal places.)