You are given the following information on Parrothead Enterprises:

Debt:

Common stock:

Preferred stock:

Market:

$9,2007\mathrm{.}3$ percent coupon bonds outstanding, with $22$ years to maturity and a quoted price of $108\mathrm{.}5.$ These bonds pay interest semiannually and have a par value of $$2,000.$

$315,000$ shares of common stock selling for $$66\mathrm{.}30$ per share. The stock has a beta of $1\mathrm{.}08$ and will pay a dividend of $$4\mathrm{.}50$ next year. The dividend is expected to grow by $5\mathrm{.}3$ percent per year indefinitely.

$9,800$ shares of $4\mathrm{.}65$ percent preferred stock selling at $$95\mathrm{.}80$ per share. The par value is $$100$ per share.

$10.2$ percent expected return, risk$-$free rate of $4\mathrm{.}5$ percent, and a $23$ percent tax rate.

Calculate the company's WACC.

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,$

WACC

WACC $,$vdotsdotsdots