Consider the following information for Evenflow Power Co.,

Debt:		5,000 6.5 percent coupon bonds outstanding, $1,000 par value, 19 years to maturity, selling for 104 percent of par; the bonds make semiannual payments.
Common stock:		120,000 shares outstanding, selling for $55 per share; the beta is 1.05.
Preferred stock:		16,500 shares of 5.5 percent preferred stock outstanding, currently selling for $107 per share.
Market:		7 percent market risk premium and 5 percent risk-free rate.

Assume the company's tax rate is 34 percent.

Required:

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