3,000 8 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 105 percent of par the bonds make semiannual payments. 69,000 shares outstanding, selling for $64 per share; the beta is 1.08. 10,000 shares of 7 percent preferred stock outstanding currently selling for $106 per share. 9 percent market risk premium and 6.5 percent risk-free rate. Debt Common stock: Preferred stock: Market: The company is in the 35 percent tax rate bracket based on its corporate infome. Required: Find the WACC. (Do not round your intermediate calculations.) 10.9% 10.8% 11.3% 11.87%