What is the weighted-average cost of capital for SKYE Corporation given the following information?

Equity shares outstanding: 1 Million

Stock price per share: $27

Yield to maturity on debt: 7.68%

Book value of interest-bearing debt: 18 million

Coupon interest rate on debt: 9%

Interest rate on government bonds: 4%

SKYE's equity beta: 0.75

Historical excess return on stocks: 6.2%

Tax rate: 40%

Note: Enter your answer to 1 decimal place.

Weighted-average cost of capital: %