Problem 11-19 WACC (LG11-3) TAFKAP Industries has 4 million shares of stock outstanding selling at $18 per share, and an issue of $24 million in 8.0 percent annual coupon bonds with a maturity of 10 years, selling at 102 percent of par. Assume TAFKAP's weighted average tax rate is 34 percent and its cost of equity is 130 percent What is TAFKAP's WACC? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) WACC %