Suppose that MNINK Industries' capital structure features 64 percent equity, 8 percent preferred stock, and 28 percent debt Assume the before-tax component costs of equity. preferred stock, and debt are 11.60 percent, 9.50 percent, and 9.00 percent, respectively. B5 3 What is MNINK's WACC if the firm faces an average tax rate of 34 percent? (Round your answer to 2 decimal places.) WACC