Problem 19-7 WACC The simplified balance sheet for the Dutch manufacturer Rensselaer Felt (figures in thousands) is as follows: Short-term debt Accounts payable Current liabilities 76,200 62,600 138,800 Cash and marketable securities Accounts receivable Inventory Current assets Property, plant, and equipment Deferred taxes Other assets Total 2,100 120,600 125,600 248,300 212,600 45,600 88,400 594,900 Long-term debt 209,200 Shareholders' equity Total 246,900 594,900 The debt has just been refinanced at an interest rate of 4.50% (short term) and 6.50% (long term). The expected rate of return on the company's shares is 13.50%. There are 7.52 million shares outstanding, and the shares are trading at 52. The tax rate is 25%. Calculate this company's weighed-average cost of capital. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Weighed-average cost of capital %