You are trying to determine the WACC for a company. It has the following characteristics.

1. The company had pre-tax net income of $25mm last year and paid taxes of $10mm.
2. The company has $900mm of total liabilities, $100mm of accounts payable, and $500mm of long-term debt.
3. The company has 120mm shares authorized, 45mm shares issued, and 5mm shares of treasury stock. The stock now trades at $35 per share.
4. the 10 year Treasury rate is 3%
5. The pre-tax cost of debt is 6%
6. The companys Beta is 2 and the market return for equities is 8%.

What is the WACC? Use the correct symbol and round to the nearest 0 decimal places.