Problem 8-7 What is the weighted-average cost of capital for SKYE Corporation given the following information? Equity shares outstanding 1 million Stock price per share $ 25 Yield to maturity on debt 7.68% Book value of interest-bearing debt $16 million Coupon interest rate on debt 9% Interest rate on government bonds 6% SKYEs equity beta 0.75 Historical excess return on stocks 6.0% Tax rate 30% Note: Enter your answer to 1 decimal place.