The table below shows a book balance sheet for the Wishing Well Motel chain. The companys long-term debt is secured by its real estate assets, but it also uses short-term bank loans as a permanent source of financing. It pays 14% interest on the bank debt and 13% interest on the secured debt. Wishing Well has 10 million shares of stock outstanding, trading at $86 per share. The expected return on Wishing Wells common stock is 19%. (Table figures in $ millions.)

Cash and marketable securities	$ 140	Bank loan	$ 280
Accounts receivable	300	Accounts payable	170
Inventory	50	Current liabilities	$ 450
Current assets	$ 490
Real estate	2,450	Long-term debt	2,100
Other assets	110	Equity	500
Total	$ 3,050	Total	$ 3,050

Calculate Wishing Wells WACC. Assume that the book and market values of Wishing Wells debt are the same. The marginal tax rate is 21%.

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.

The table below shows a book balance sheet for the Wishing Well Motel chain. The company's long-term debt is secured by its real estate assets, but it also uses short-term bank loans as a permanent source of financing. It pays 14% interest on the bank debt and 13% interest on the secured debt. Wishing Well has 10 million shares of stock outstanding, trading at $86 per share. The expected return on Wishing Well's common stock is 19%. (Table figures in $ millions.) Calculate Wishing Well's WACC. Assume that the book and market values of Wishing Well's debt are the same. The marginal tax rate is 21% Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place