Power Financial Corp has a current share price of $34, and a market capitalization of $24 billion. The company is expected to pay a dividend of $1.81 per share, with a dividend growth rate of 4% per year. The firm has $24 billion of debt selling at par value with a yield to maturity of 4%. If the firm's tax rate is 30%, what is Power Financial's WACC? Round to 2 decimal places. i.e. 1.15 for 1.15%