Consider the following information for Evenflow Power Co., Debt: 3,500 6.5 percent coupon bonds outstanding, $1,000 par value, 20 years to maturity, selling for 102 percent of par; the bonds make semiannual payments. Common stock: 84,000 shares outstanding, selling for $64 per share; the beta is 1.08. Preferred stock: 12,500 shares of 5.5 percent preferred stock outstanding, currently selling for $103 per share. Market: 7 percent market risk premium and 5.5 percent risk-free rate. Assume the company's tax rate is 34 percent. Required: Find the WACC. (Do not round your intermediate calculations.)