To finance the purchase RM will sell 10 year bonds paying 6.9% per year at the market price of $1,061. Preferred stock paying a $2.05 dividend can be sold for $25.41. Current stock for RM is currently selling for $54.96 per share and the firm paid a $3.02 dividend last year. Dividends are expected to continue to grow at a rate of 4.9% per year into the indefinite future. If the firm's tax rate is 30%, RM's WACC is ______% (Round to three decimal places) Source of Capital Market Values Bonds 3,600,000 Preferred Stock 1,800,000 Common Stock 6,100,000