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Upton Umbrellas has a cost of equity of 1 3 . 5 percent, the YTM on the company's bonds is 6 . 4 percent, and

Upton Umbrellas has a cost of equity of 13.5 percent, the YTM on the company's bonds is 6.4 percent, and the tax rate is 30 percent. The company's bonds sell for 103.4 percent of par. The debt has a book value of $414,000 and total assets have a book value of $954,000. If the market-to-book ratio is 3.10 times, what is the company's WACC? (Do not round intermediate transactions. Round your final answer to the closest 2 decimals. Do not use the % sign. If your answer is 12.34%, then enter 12.34)
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