Problem 13-5 Calculating WACC (LO1) The total book value of WTC's equity is $12 million, and book value per share is $24. The stock has a market-to-book ratio of 1.5, and the cost of equity is 14%. The firm's bonds have a face value of $8 million and sell at a price of 110% of face value. The yield to maturity on the bonds is 9%, and the firm's tax rate is 21%. What is the company's WACC? Note: Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. WACC 10.89 %