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 35%, rd - 7%, T - 6%, and ry - 10%. 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. %