The CFO of Purple Lemon Fruit Company is trying to determine the companys WACC. He has determined that the companys before-tax cost of debt is 8.70%. The company currently has $230,000 of debt, and the CFO believes that the book value of the companys debt is a good approximation for the market value of the companys debt.

	The firms cost of preferred stock is 9.90%, and the book value of preferred stock is $16,000.
	Its cost of equity is 13.20%, and the company currently has $210,000 of common equity on its balance sheet.
	The CFO has estimated that the firms market value of preferred stock is $20,000, and the market value of its common equity is $320,000. If Purple Lemon is subject to a tax rate of 40%, Purple Lemon Fruit Companys WACC is ?. (Hint: Round your answer to two decimal places.)