ABC Corp. has $80M in long-term debt, $5M in preferred equity, and $65M in common equity, with a cost of debt of 0.06, a tax rate of 0.40, and a cost of preferred equity of 0.08, using the CAPM required rate of return of equity determined in problem 6 (to the fourth decimal place), what is the WACC? (Please provide your answer to the fourth decimal place.)