Consider the following information for Evenflow Power Co.,

Debt:		4,500 9 percent coupon bonds outstanding, $1,000 par value, 23 years to maturity, selling for 102 percent of par; the bonds make semiannual payments.
Common stock:		94,500 shares outstanding, selling for $55 per share; the beta is 1.06.
Preferred stock:		14,500 shares of 8.5 percent preferred stock outstanding, currently selling for $104 per share.
Market:		10 percent market risk premium and 7.5 percent risk-free rate.

Assume the company's tax rate is 34 percent.

Required:

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