Telejack is trying to estimate their cost of capital. Their Preferred stock costs 8.4%. their After tax cost of debt is 4%, their Cost of equity is 10% and if they issue new stock it will cost 13.7%. Telejack wants 40% debt, 10% preferred and 50% from retained earnings in the capital structure. What is their WACC? Post your answer as a % with 2 decimal places