Nacho Libre SA$.$ has $3,000,000$ common shares outstanding that trade for $$20\mathrm{.}00$ per share. The company has also issued one bond with a par value of $$80,000,000$ that currently trades at $110$ percent of par. You observe that the company's required return on stock is $15\mathrm{.}00$ percent and the $($after$-$tax$)$ yield to maturity on its debt is $4\mathrm{.}00$ percent. What is the weighted average cost of capital? Write your answer as a percent rounded to two decimals, but don't include $\%$ sign.

Numeric Response