Raisin Bran Inc., has 14,075 bonds with a 3.68 percent coupon outstanding, $1,000 par value, 5 years to maturity, selling at par; the bonds make semiannual payments. The company has 272,900 shares of common stock outstanding, selling for $25.75 per share; the beta is 0.56. The expected return on the market is 9.44 percent and the risk-free rate is 2.32 percent. The company also has 45,521 shares of 1.59 percent preferred stock outstanding, currently selling for $45.03 per share. Assume the companys tax rate is 25 percent, what is its WACC?

[Enter the final answer in as a percent with two decimals (e.g. 5.55%)]