You are trying to determine the WACC for a company. It has the following characteristics. The company had pre-tax net income of $25mm last year and paid taxes of $10mm. The company has $900mm of total...

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 company’s 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.