Consider the following information for Evenflow Power Co.,

Debt:		4,000 6.5 percent coupon bonds outstanding, $1,000 par value, 20 years to maturity, selling for 104 percent of par; the bonds make semiannual payments.
Common stock:		80,000 shares outstanding, selling for $59 per share; the beta is 1.18.
Preferred stock:		12,000 shares of 5.5 percent preferred stock outstanding, currently selling for $107 per share.
Market:		7 percent market risk premium and 4.5 percent risk-free rate.

Assume the company's tax rate is 34 percent.

Required:

Find the WACC. (Do not round your intermediate calculations.)