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Rossini Motors has 52,000 shares outstanding with a market price of $17 per share. In...

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Rossini Motors has 52,000 shares outstanding with a market price of $17 per share. In addition, Rossini has debt with a market value of $300,000. Suppose Rossini's equity cost of capital is 11% p.a., and its debt cost of capital is 9% p.a. If Rossini's corporate tax rate is 25%, what is its WACC? Write the answer as a percentage with two decimals; e.g., 23.49%, but don't write the % symbol. (Acceptable error = 0.20%)

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