The table below shows a book balance sheet for the Wishing Well Motel chain. The company's longterm debt is secured by its real estate assets, but it also uses shorteterm bank loans as a permanent source offinancing. It pays 13% interest on the bank debt and 12% interest on the secured debt. Wishing Well has 10 million shares of stock outstanding, trading at $88 per share. The expected return on Wishing Well's common stock is 22%. [Table gures in $ millions.) Cash and marketable securities 3 160 Bank loan $ 330 Accounts receivable 230 Accounts payable 150 Inventory 50 Current liabilities $ 480 Current assets 3 440 Real estate 2, 100 Long-term debt 1,980 Other assets 120 Equity 200 Total 3 2, 660 Total $ 2, 6'50 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%. (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.} Weightedaverage cost of capital :lLl