Consider the following information for Evenflow Power Co.,

Debt:		5,500 8.5 percent coupon bonds outstanding, $1,000 par value, 18 years to maturity, selling for 102 percent of par; the bonds make semiannual payments.
Common stock:		115,500 shares outstanding, selling for $56 per share; the beta is 1.06.
Preferred stock:		19,000 shares of 7.5 percent preferred stock outstanding, currently selling for $103 per share.
Market:		10 percent market risk premium and 7 percent risk-free rate.

Assume the company's tax rate is 34 percent.

Required:

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

Multiple Choice

11.71%

11.21%

12.44%

11.31%

11.4%