Yates Inc. is currently an all equity firm, but the company can borrow at 7.8 percent interest. The company currently has one million shares outstanding, and you estimate the company's WACC is currently 9.6 percent, and the tax rate is 35 percent. If the firm converts to 30 percent debt, what will be the company's WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 16.37) WACC 10.37%