VL Corporation making a new investment using the following capital structure:

- Common Stock = $75 million, with an effective annual after tax interest rate of 24%

- Preferred Stock= $30 million, with an effective annual after tax interest rate of 17%

- Bonds = $18 million, with an effective annual after tax interest rate of 24%

Compute the Weighted Average Cost of Capital (WACC) for this investment. Write your answer as percentage (e.g. if your answer is 5%, write 5 not 0.05). Note: round your answer to two decimal places, and do not include spaces, percentage signs, plus or minus signs, nor commas.