14- Problems You are given the following information for Watson Power Co. Assume the company's tax rate is 24 percent Debt 14,000 6.3 percent coupon bonds outstanding, $1,000 par value, 29 years to maturity, selling for 107 percent of par, the bonds make semiannual payments. Common stock 470,000 shares outstanding, selling for $65 per share; the beta is 116 Preferred 20,500 shares of 41 percent preferred stock outstanding, currently selling for $86 per share. The par value is $100 per share. stock Market 7 percent market risk premium and 5.2 percent risk-free rate What is the company's WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, eg. 32.16.) WACC