Common stock You are given the following information for Watson Power Co. Assume the company's tax rate is 40 percent Debt 5.000 6.6 percent coupon bonds outstanding, $1.000 par value, 20 years to maturity, seling for 109 percent of par, the bonds make semiannual payments 380,000 shares outstanding, selling for $56 per share the beta is 112. Preferred 16,000 shares of 3 percent preferred stock outstanding, currently selling for $76 per share 5 percent market risk premium and 4.6 percent risk free rate. What is the company's WACC? (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g. 32.16) WACC stock Market