The simplified balance sheet for Rensselaer Felt (in thousands) is as follows: The debt has just been refinanced at an interest rate of 4.50% (short term) and 6.50% (long term) The expected rate of return on the company's shares is 13.50%. There are 7.52 million shares outstanding, and the shares are trading at $52. The tax rate is 34%. Calculate this company's weighted-average cost of capital. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) WACC