Here is some information about Stokenchurch Inc.: Beta of common stock = 1.9 Treasury bill rate = 4% Market risk premium = 7.2% Yield to maturity on long-term debt = 5% Book value of equity = $410 million Market value of equity = $820 million Long-term debt outstanding = $820 million Corporate tax rate = 35% What is the company’s WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
