You were hired as a consultant to Alibaba, whose target capital structure is 45% debt, 10% preferred, and 45% common equity. The interest rate on new debt is 6%, the yield on the preferred is 9%, the cost of retained earnings is 10%, and the tax rate is 20%. The firm will not be issuing any new stock. What is Alibabas WACC? (submit your answer in percentages, NOT in decimals)