The CFO of Wills Hornets Inc. is calculating the WACC of the company. She collects the following facts: The company's long-term bonds currently offer a yield to maturity of 8.0%. The company's stock price is $25.8 per share and recently paid a dividend of $2 per share, which is expected to grow at a constant rate of 6.0% per year. The company preference shares currently trade at $43.0 per share and pay a preference dividend of 10.0% on a par value of $50. The company's capital structure is 65.0% common equity, 10.0% preference shares, and 25.0% debt. The company's tax rate is 40.0%. What is the company's WACC? % (Give answer as % to 2 decimal places)