ABC Inc. has a the capital structure shown below.

Liabilities	$84,684,015
Stockholders' Equity	$51,973,185

ABC Inc. will raise additional capital for new projects this year, in the amount of $6,118,468. Assume the current capital structure is ideal.

The earnings, dividends, and stock price of ABC Inc. are expected to grow at 5.61% per year in the future. ABC Inc.'s common stock sells for $34 per share, and its last dividend was $2.37.

The companys 5.6% coupon rate, semiannual payment, $1,000.00 par value bond that matures in 19 years and currently sells at par. The companys federal-plus-state tax rate is 28%.

What is the weighted average cost of capital for ABC Inc.?

Do not round any intermediate calculations. Report it as a whole number and round your answer to two decimal points. For example, if your answer is 17.857321%, you would type in 17.86 as your answer.