Planter Co. has a target capital structure of 40% debt and 60% common equity, with no preferred stock. Its before-tax cost of debt is 8%, and its marginal tax rate is 30%. The current stock price is $24.00. The last dividend was $2.20, and it is expected to grow at a 5% constant rate. What is the company's WACC? Answer as a percentage with 2 decimals (ex. 16.61)