Dittmer Inc. has the following information.
(1) The firm's semiannual bonds mature in 20 years which were issued 5 years ago, have an 8.00% coupon, a par value of $1,000, and a market price of $1,050.00.
(2) The company's tax rate is 40%.
(3) The risk-free rate is 4.50%, the market risk premium is 5.50%, and the stock's beta is 1.20.
(4) The target capital structure consists of 35% debt and the balance is common equity.
Dittmer's WACC is ___________%. Answer in percentage, rounded to two decimal places