Problem 19-3 WACC Consider the following information for Federated Junkyards of America. Debt: $81,000,000 book value outstanding. The debt is trading at 89% of book value. The yield to maturity is 10%. Equity: 3,100,000 shares selling at $48 per share. Assume the expected rate of return on Federated's stock is 19%. Taxes: Federated's marginal tax rate IS Tc = 0.21. Calculate the weighted average cost of capital (WACC). (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Weighted-average cost of capital %