Consider the following information for Evenflow Power Co., Debt: Common stock: 6,000 8 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 104 percent of par; the bonds make semiannual payments. 144,000 shares outstanding, selling for $65 per share; the beta is 1.16. 17,000 shares of 6.5 percent preferred stock outstanding, currently selling for $105 per share. 8.5 percent market risk premium and 6 percent risk-free rate. Preferred stock: Market: Assume the company's tax rate is 34 percent. Required: Find the WACC. (Do not round your intermediate calculations.)