You are given the following information for ABC Company. Assume the companys tax rate is 25 percent. Debt: 34,000 5.3 percent coupon bonds outstanding, $2,000 par value, 26 years to maturity, selling for 106 percent of par; the bonds make semiannual payments. Common stock: 490,000 shares outstanding, selling for $80 per share; the beta is 1.14. Market: 6 percent market risk premium and 4.5 percent risk-free rate.

What is the company's WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places)