The simplified balance sheet for the Dutch manufacturer Rensselaer Felt (figures in thousands) is as follows: Cash and marketable securities Accounts receivable Inventory Current assets Property, plant, and equipment Deferred taxes Other assets Total 2,200 120,700 125,700 248,600 212,700 45,790 88,300 595,300 Short-term debt 76,300 Accounts payable 62,700 Current liabilities 139,000 Long-term debt 209,300 Shareholders equity 247,000 Total 595,300 The debt has just been refinanced at an interest rate of 4.25% (short term) and 6.25% (long term). The expected rate of return on the company's shares is 13.25% There are 7.53 million shares outstanding, and the shares are trading at C53. The tax rate is 25%. 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.) Weighed-average cost of capital