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Shadow Corp. has no debt but can borrow at 6.9 percent. The firms WACC is currently 8.7 percent, and the tax rate is 23 percent.

Shadow Corp. has no debt but can borrow at 6.9 percent. The firms WACC is currently 8.7 percent, and the tax rate is 23 percent.

If the firm converts to 40 percent debt, what will the company's WACC be? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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