Consider the following information for Evenflow Power Co., Debt: 2,000 8.5 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 103 percent of par; the bonds make semiannual payments. Common stock: 42,000 shares outstanding, selling for $59 per share; the beta is 1.17. Preferred stock: 6,500 shares of 7.5 percent preferred stock outstanding, currently selling for $105 per share. Market: 9.5 percent market risk premium and 6.5 percent risk-free rate. Assume the company's tax rate is 32 percent. Required: Find the WACC. (Do not round your intermediate calculations.)