8 Problem 12-17 Preferred Stock and WACC The Saunders Investment Bank has the following financing outstanding. Debt: 130,880 bonds with a coupon rate of 9 percent and a current price quote of 112; the bonds have 20 years to maturity. 30,ee0 zero coupon bonds with a price quote of 17 and 30 years until maturity. Both bonds have a par value of $1,ee0. Assume semiannual compounding. 10 points Skipped Preferred stock: 220,000 shares of 7 percent preferred stock with a current price of 569, and a par value of $100. Common stock:3,300,000 shares of common stock: the current price is $55, and the beta of the stock is 1.e. eBook Market: The corporate tax rate is 35 percent, the market risk premium is 6 percent, and the risk-free rate is 3 percent. Print What is the WACC for the company? (Do not round intermediate calculations. Enter your answer as a percent places, e.g., 32.16.) References WACC % Reference links 12.8The