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 12% interest on the bank debt and 9% interest on the secured debt. Wishing Well has 10 million shares of stock outstanding, trading at $81 per share. The expected return on Wishing Wells common stock is 20%. (Table figures in $ millions.)

Cash and marketable securities	$	90		Bank loan	$	260
Accounts receivable		160		Accounts payable		120
Inventory		50		Current liabilities	$	380
Current assets	$	300
Real estate		1,750		Long-term debt		1,500
Other assets		130		Equity		300
Total	$	2,180		Total	$	2,180

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.)