Shi Import-Export's balance sheet shows $300 malion in debt, $50 million in preferred stock, and $250 million in total common equity. Shi's tax rate is 40%,rd=7%,rpe=5.5%, and rn10%. If shi has a target capital structure of 30% debt, 5% preferred stock, and 65% cornmon stock, what is its WACC? Round your answer to two dedimal places