Consider the following information for Evenflow Power Co.,

Debt:		4,500 7.5 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 105 percent of par; the bonds make semiannual payments.
Common stock:		99,000 shares outstanding, selling for $60 per share; the beta is 1.07.
Preferred stock:		13,000 shares of 7 percent preferred stock outstanding, currently selling for $107 per share.
Market:		9 percent market risk premium and 6.5 percent risk-free rate.

Assume the company's tax rate is 34 percent.

Required:

Find the WACC