You are computing the WACC for a firm you are interested in investing in. The firm's market capitalization is $1,400 million, and the market value of their debt is $700 million. The YTM on their bonds is 4%, and, using the CAPM, you find the expected return on their stock is 12%. They have an effective tax rate of 25%. What is this firm's WACC? Give the answer in percentage terms to two decimal places, and do not include any symbols (no percent signs). For example, if your answer is 1.23% (i.e., 0.0123), write your answer as 1.23.