You are given the following information for Golden Fleece Financial:

Long-term debt outstanding:		$300,000
Current yield to maturity (rdebt):		8%
Number of shares of common stock:		10,000
Price per share:		$50
Book value per share:		$25
Expected rate of return on stock (requity):		15%

Calculate Golden Fleece's company cost of capital. Ignore taxes. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Cost of capital %