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The capital structure of Hovercar Automotive consists of 60% equity and 40% debt. The required rate of return on its debt is 7.4% and 12.5%

The capital structure of Hovercar Automotive consists of 60% equity and 40% debt. The required rate of return on its debt is 7.4% and 12.5% on its equity. If the tax rate is 22%, what is Hovercar's weighted-average cost of capital (WACC)?

Answer Format: Positive percentage rounded to 2 decimal places.

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