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Tulloch Manufacturing has a target debt-equity ratio of 61. Its cost of equity is 14.4 percent, and its pretax cost of debt is 9.4 percent.

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Tulloch Manufacturing has a target debt-equity ratio of 61. Its cost of equity is 14.4 percent, and its pretax cost of debt is 9.4 percent. If the tax rate is 40 percent, what is the company's WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) WACC

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