Consider the following information for Evenflow Power Co.,

Debt:

6,000 6.5 percent coupon bonds outstanding, $1,000 par value, 23 years to maturity, selling for 104 percent of par; the bonds make semiannual payments.

Common stock:

120,000 shares outstanding, selling for $56 per share; the beta is 1.17.

Preferred stock:

18,500 shares of 5.5 percent preferred stock outstanding, currently selling for $105 per share.

Market:

8 percent market risk premium and 5 percent risk-free rate.

Assume the company's tax rate is 31 percent.

Consider the following information for Evenfow Power Co, Debt 6,000 6.5 percent coupon bonds outstanding, $1,000 par value, 23 years to maturity, selling for 104 percent of par: the bonds make semiannual payments Common stock: 120,000 shares outstanding, selling for $56 per share the beta is 117 Preferred stock 18,500 shares of 5.5 percent preferred stock outstanding, currently selling for $105 per share. Market 8 percent market risk premium and 5 percent risk-free rate. Assume the companys tax rate is 31 percent. Required: Find the WACC (Do not round your intermediate calculations O 8.94% O 9.74% O 9.34% O 909% O 8.84%