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Consider the following information for Evenflow Power Co., Debt 4,000 8 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 103
Consider the following information for Evenflow Power Co., Debt 4,000 8 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 103 percent of par, the bonds make semiannual payments. 80,000 shares outstanding, selling for $60 per share; the beta Is 1.07 12,000 shares of 7 percent preferred stock outstanding, currently selling for $105 per share. Common stock Preferred stock. o perces.tee Market rate Assume the company's tax rate is 32 percent. Required: Find the WACC. (Do not round your Intermediate c alculatlons.)
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