WACC Shi Import-Export's balance sheet shows $300 million in debt, $50 million in preferred stock, and $250 million in t

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WACC
Shi Import-Export's balance sheet shows $300 million in debt,
$50 million in preferred stock, and $250 million in total common
equity. Shi's tax rate is 25%, rd = 7%,
rps = 5.1%, and rs = 14%. If Shi
has a target capital structure of 30% debt, 5% preferred stock, and
65% common stock, what is its WACC? Round your answer to two
decimal places.