The CFO of Wills Hornets Inc. is calculating the WACC of the company. She collects the following facts: The companys long-term bonds currently offer a yield to maturity of 8%. The companys stock price is $31.1 per share and recently paid a dividend of $2 per share, which is expected to grow at a constant rate of 6% per year. The company preference shares currently trade at $40.5 per share and pay a preference dividend of 10% on a par value of $50. The companys capital structure is 65% common equity, 10% preference shares, and 25% debt. The companys tax rate is 40%.

What is the companys WACC? % (Give answer as % to 2 decimal places)