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The expected return on a firm's equity is 9%, and the firm has a yield to maturity on its debt of 5.6%. Debt accounts for

"The expected return on a firm's equity is 9%, and the firm has a yield to maturity on its debt of 5.6%. Debt accounts for 20%, common equity for 73% and preferred equity for 7% of the firm's total market value. If its tax rate is 30%, and the cost of preferred equity is 20%, what is this firm s WACC? Express your answers in strictly numerical terms. For example, if the answer is 5%, write 0.05

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