WACC Shi Import-Export's balance sheet shows $300 million in debt, $50 million in preferred stock, and $250 million in total common equity. Shi's tax rate is 30%, rd - 8%, Ips - 7.1%, and rs - 12%. If Shi has a target capital structure of 30% debt, 5% preferred stock and 65% common stock what is its WACC? Round your answer to two decimal places