Calculate the WACC of a given company according to the following information.

• Common Stock: 250,000 shares common stock selling for $66 per share. The stock has a beta of 1.7.
• Market: The expected return on the market is 8.5%, and the risk-free rate of return is 2%.
• Debt: 17,000 5% coupon bonds outstanding, priced at 95.5% of the par value, with 15 years to maturity. These bonds pay interest semiannually.
• Preferred Stock: 50,000 shares of preferred stock with a dividend of $3.60 per share. It is currently selling at $105 per share.
• tax bracket = 25%

Please enter your answer as a PERCENT rounded to 2 decimal places. For example. if your answer is 5.5%, enter 5.5, instead of 0.055.