You just finished a capital investment analysis on a$100 million project that has an8-year life. The project will generate equal annual operating cash flows of$20 million. You assumed a$30 million salvagevalue, $20 million above its adjusted tax basis. The project has no effect on net working capital. With a35% marginal taxrate, the resulting NPV is$7.82 million. What discount rate(WACC) did youuse? (in percent with 4decimals)