Barney Company's target capital structure is 30% debt, 15% preferred, and 55% common equity. The after-tax cost of debt is 6.00%, the cost of preferred is 7.50%, and the cost of common using reinvested earnings is 12.75%. The firm will not be issuing any new stock. You were hired as a consultant to help determine their cost of capital What is its WACC (in percentage)? Instruction: Round answer to two decimal places. Do not include the % symbol