Consider the following information for Evenflow Power Co.,

Debt:		5,500 9 percent coupon bonds outstanding, $1,000 par value, 19 years to maturity, selling for 105 percent of par; the bonds make semiannual payments.
Common stock:		121,000 shares outstanding, selling for $64 per share; the beta is 1.1.
Preferred stock:		18,000 shares of 7.5 percent preferred stock outstanding, currently selling for $107 per share.
Market:		10 percent market risk premium and 7 percent risk-free rate.

Assume the company's tax rate is 32 percent.

Find the WACC.