The table below shows a book balance sheet for the Wishing Well Motel chain. The company's 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 10% interest on the bank debt and 8% interest on the secured debt. Wishing Well has 10 million shares of stock outstanding, trading at $88 per share. The expected return on Wishing Well's common stock is 21%. (Table figures in $ millions.) $ Bank loan Accounts payable Current liabilities 300 180 480 $ Cash and marketable securities Accounts receivable Inventory Current assets Real estate Other assets Total 160 320 50 $ 530 2,550 150 $ 3,230 Long-term debt Equity Total 2,450 300 $ 3,230 Calculate Wishing Well's WACC. Assume that the book and market values of Wishing Well's debt are the same. The marginal tax rate is 21%. (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.) Weighted average cost of capital %