Consider the following information for Federated Junkyards of America.

Debt: $$73,000,000$ book value outstanding. The debt is trading at $91\%$ of book value. The yield to maturity is $11\%.$

Equity: $2,300,000$ shares selling at $$40$ per share. Assume the expected rate of return on Federated$$s stock is $20\%.$

Taxes: Federated$$s marginal tax rate is Tc$=0\mathrm{.}21$

$.$

Calculate the weighted$-$average cost of capital $($WACC$).$

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to $2$ decimal places.