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You are given the following information for Lightning Power Company. Assume the company's tax rate is $21$ percent.

$1\mathrm{.}87$

points

$16,0006\mathrm{.}5$ percent coupon bonds outstanding, $$1,000$ par value, $27$ years

to maturity, selling for $105$ percent of par; the bonds make semiannual payments.

$490,000$ shares outstanding, selling for $$67$ per share; beta is $1\mathrm{.}18$

$21,500$ shares of $4\mathrm{.}3$ percent preferred stock outstanding, a $$100$ par

value, selling for $$88$ per share.

$6$ percent market risk premium and $5\mathrm{.}4$ percent risk$-$free rate.

What is the company's WACC?

Note: Do not round intermediate colculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Answer is complete but not entirely correct.

WACC

$8\mathrm{.}53$

$\%$