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 11% interest on the bank debt and 9% interest on the secured debt. Wishing Well has 10 million shares of stock outstanding, trading at $80 per share. The expected return on Wishing Wells common stock is 19%. (Table figures in $ millions.)

Cash and marketable securities	$	80		Bank loan	$	250
Accounts receivable		150		Accounts payable		120
Inventory		50		Current liabilities	$	370
Current assets	$	280
Real estate		1,700		Long-term debt		1,550
Other assets		140		Equity		200
Total	$	2,120		Total	$	2,120

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.Enter your answer as a percent rounded to 1 decimal place.)