Suppose Company C's stock return has a volatility of 50% and its correlation with the Market Portfolio is 75%. The expected return on the Market Portfolio is 8% and the volatility of the Market Portfolio is 25%. Riskfree government bonds yield 1% and Company C's bonds yield 7%. Company C's capital structure is 60% equity and 40% debt. The corporate tax rate is 35%. Calculate the WACC for Company C. Type your answer in the space below, to two decimal places, in percent (e.g., 10.25% would be written as 10.25)