Starr Company's balance sheet includes $$490$ million of long$-$term debt and total common equity of $$90$ million with $35$ million shares of common stock outstanding. The debt has $14$ years to maturity, a coupon rate of $7\%$ with annual compounding, and a yield to maturity of $4\%.$ The company expects to pay a dividend on the common stock at the end of the year $($D$1)$ of $$2\mathrm{.}46$ per share with future dividends growing at $2\%$ per year. The common stock is valued at $$30$ per share and the firm's tax rate is $24\%.$ What would the WACC be $($in percentage terms, rounded to two decimal places, e$.$g$.,12\mathrm{.}34)$ for this company using market values of debt and equity? Note: You will need to first estimate the market values of each component of capital to find their respective weights as well as their respective costs before making the WACC calculation.

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