Consider the following information for Evenflow Power Co., Debt: 4,000 5.5 percent coupon bonds outstanding, $1,000 par value, 23 years to maturity, selling for 105 percent of par; the bonds make semiannual payments. Common stock: 96,000 shares outstanding, selling for $58 per share; the beta is 1.15. Preferred stock: 12,000 shares of 4.5 percent preferred stock outstanding, currently selling for $108 per share. Market: 7.5 percent market risk premium and 4.5 percent risk-free rate. Assume the company's tax rate is 32 percent. Required: Find the WACC.