Today is May 7, 2020.

Surtsey Corp. has 275,000 shares of 4.7% preferred stock outstanding, with a par value of $50 per share. Dividends are paid annually and the preferred stock is currently selling for $41.50 per share.

There are 2,500,000 shares of common stock issued and outstanding. The most recent quote for the common stock of Surtsey Corp. is provided below:

Firm	Ticker	Open	High	Low	Close	Net Chg	Vol	PE	Div	YTD % Chg
Surtsey Corp.	SCS	19.79	20.01	19.64	19.99	-0.50	7,525,000	14.5	0.87	6.4

There are 120,000 bonds outstanding. A coupon was paid yesterday. The most recent bond quote for Surtsey Corp. is provided below:

Firm	Symbol	Coupon	Maturity	Rating Moody's/S&P	High	Low	Last	Change
Surtsey Corp.	SCS689002	3.81%	May 2045	Aa/AA-	81.654	80.211	81.387	0.458

The firm's marginal tax rate is 21%.

What is the firm's WACC?

Enter your answer in percent format, with only 2 decimal places (eg. 10.55%).