Consider the following pool of mortgages:
100 mortgages each with initial balance of $300,000, interest rate 8%, issued for 30 years with monthly payments
50 mortgages each with initial balance of $400,000, interest rate 4%, issued for 30 years with monthly payments
What is the Weighted Average Coupon (WAC) for this pool at origination? Enter your answer as a rate rounded to 2 decimal points, without the percent sign (e.g. if your answer is 5.112%, write 5.11).