Problem 13-2 WACC (L01) Here is some information about Stokenchurch Inc.: Beta of common stock = 2.1 Treasury bill rate = 4% Market risk premium = 7.4% Yield to maturity on long-term debt = 9% Book value of equity = $430 million Market value of equity = $860 million Long-term debt outstanding = $860 million Corporate tax rate = 21% What is the company's WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) WACC