The table below shows a book balance sheet for the Wishing Well Motel chain. The companys long-term debt is secured by its real estate assets, but it also uses short-term bank loans as a permanent source of financing. It pays 14% interest on the bank debt and 13% interest on the secured debt. Wishing Well has 10 million shares of stock outstanding, trading at $86 per share. The expected return on Wishing Wells common stock is 19%. (Table figures in $ millions.)

Cash and marketable securities	$	140		Bank loan	$	280
Accounts receivable		300		Accounts payable		170
Inventory		50
				Current liabilities	$	450
Current assets	$	490
Real estate		2450		Long-term debt		2100
Other assets		110		Equity		500
Total	$	3050		Total	$	3050
Calculate Wishing Wells WACC. Assume that the book and market values of Wishing Wells debt are the same. The marginal tax rate is 21%. (Do not round intermediate calculations. Round your answer to 1 decimal place