Rossini Motors has 53 million shares outstanding with a market price of $16 per share. In addition, Rossini has debt with a market value of $600 million. Suppose Rossini's equity cost of capital is 15% p.a., and its debt cost of capital is 5% p.a. If Rossini's corporate tax rate is 39%, what is its WACC? Write the answer as a percentage with two decimals; e.g., 23.49%, but don't write the % symbol. (Acceptable error = 0.20%)