Question 12 Homework. Unanswered If the risk-free rate is 1.4% and the expected market return is 7.4%, what is the WACC of the company with the following characteristics? Answer in percent, rounded to two decimal places. Market value of debt: $700 million Market price of each share: $16 Number of shares outstanding: 90 million Tax rate: 19.3% The average yield on current debt (pre-tax cost of debt): 5.8% Beta: 0.91 Type your numeric answer and submit