Please help me find the WACC of SNAP. They give the answer below but I am having trouble getting that number from the info provided below.

Thank you

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Exhibit 10 Morgan Stanley's Cash Flow Forecasts and Valuation Assumptions for Snap Inc. ($ milli Financial Forecast ($ millio Item 2016Act 2017 2018 2019 2020 2021 2022 Income Statement Net Revenue $405 $944 $1,935 $3,254 $4,902 $6,907 $9,189 Growth 589.5% 133.3% 105.0% 68.2% 50.6% 40.9% 33.0% Adj. EBITDA (Note 1) ($459) ($772) ($610) ($195) $363 $1,474 $2,616 Adj. EBITDA Margin (113.6%) (81.8%) (31.5%) (6.0%) 7.4% 21.3% 28.5% Cash Flow Items Cash Taxes Incr (Decr) in Net WC $151 $257 $228 $231 $228 $209 $224 Capital Expenditures $67 $83 $97 $109 $120 $130 $140 Stock-based Comp. $32 $75 $159 $203 $257 $317 $421 Free Cash Flow ($709) ($1,186) ($1, 093) ($737) ($243) $818 $1,831 Morgan Stanley Valuation Assumptions 2 Cost of Debt 3.00% # Fully Diluted Shares (billions) 1,404 Future Leverage (D/V) 2% Excess Cash ($ mil) $2,081 Tax Rate 35% Cost of Equity 9.90% Perpetual Growth Rate 3.5% Equity Risk Premium 5.59% Stated WACC 9.7%