The simplified balance sheet for Rensselaer Felt (in thousands) is as follows:

Cash and marketable securities	$2,300		Short-term debt	$76,400
Accounts receivable	120,800		Accounts payable	62,800
Inventory	125,800		Current liabilities	$139,200
Current assets	$248,900
Property, plant, and equipment	304,400		Long-term debt	209,400
			Deferred taxes	45,800
Other assets	88,200		Shareholders' equity	247,100
Total	$641,500		Total	$641,500

The debt has just been refinanced at an interest rate of 4.00% (short term) and 6.00% (long term). The expected rate of return on the company's shares is 13.00%. There are 7.54 million shares outstanding, and the shares are trading at $54. The tax rate is 35%.

Calculate this company's weighed-average cost of capital. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

WACC %