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

1. The company had pre-tax net income of $40mm last year and paid taxes of $10mm.
2. The company has $900mm of total liabilities, $300mm of accounts payable, and $400mm of long-term debt.
3. The company has 140mm shares authorized, 55mm shares issued, and 5mm shares of treasury stock. The stock now trades at $25 per share.
4. Assume the pre-tax cost of debt is 7%. The 10 year Treasury rate is 2%
5. The companys Beta is 1.75 and the market return for equities is 9%.

What is the WACC? Round to the nearest zero decimal places and use the appropriate symbol.