Company’s weighted average cost of capital (WACC)

Light Manufacturing has a target debt-equity ratio of 0.60. Its cost of equity is 14.0 percent, and its cost of debt is 6.0 percent. If the tax rate is 30%, what is the company’s weighted average cost of capital (WACC)? (5 Points)
Formula: WACC = (E/V) x RE + (D/V) x RD x (1- TC)