Whispering Pines Inc. is all-equity-financed. The expected rate of return on the companys shares is 10.75%. Suppose the company issues debt, repurchases shares, and moves to a 25% debt-to-value ratio (D/V = 0.25). What will be the companys weighted-average cost of capital at the new capital structure? The borrowing rate is 6.25% and the tax rate is 21%. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)