Suppose that MNINK Industries' capital structure features $63$ percent equity, $7$ percent preferred stock, and $30$ percent debt. Assume

the before$-$tax component costs of equity, preferred stock, and debt are $11\mathrm{.}80$ percent, $9\mathrm{.}70$ percent, and $9\mathrm{.}00$ percent, respectively.

What is MNINK's WACC if the firm faces an average tax rate of $21$ percent and can make full use of the interest tax shield?

Note: Round your answer to $2$ decimal places.

WACC