The following facts describe Larsen & Toubro Ltd.’s component costs of capital and capital structure:

Component Costs of Capital
Cost of equity based on the CAPM ...................................................15.6%
Pretax cost of debt ............................................................................8.28%
Tax rate ................................................................................................30%
Target weight in capital structure ..............................equity 80%, debt 20%

Based on the information given, calculate Larsen & Toubro’s WACC.