Consider the following information for Evenflow Power Co.,

Debt:		5,500 bonds that each year pay 9 percent of par value as an annual coupon, have a $1,000 par value, and a yield to maturity of 8.57 percent compounded annually. The bonds have 19 years to maturity and currently sell for 104 percent of par (face) value.
Common stock:		132,000 shares outstanding, selling for $60 per share; the beta is 1.06.
Preferred stock:		19,000 preferred shares that pay a dividend of 8 percent annually on $100 par value, and currently sell for $105 per share.
Market:		11 percent market risk premium and 7.5 percent risk-free rate.

Assume the company's tax rate is 34 percent. Note: Face value is sometimes used interchangeably with par value. Preferred shares almost always pay a constant dividend, but the dividend is usually quoted as a percent of par value (just like coupons and bonds). So as an example, a 7% preferred dividend on a $100 par value means the annual dividend payment is $7.

Required:

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