Consider the following information for Evenflow Power Co., Debt Common stock: Preferred stock: Market: 2,500 5.5 percent APR coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 102 percent of par; the bonds make semiannual payments. 52,500 shares outstanding, selling for $57 per share; the beta is 1.16. 8,500 shares of 4.5 percent preferred stock outstanding (note: take this percentage and convert it into decimal format, then multiply times 100 to find the preferred dividend), currently selling for $104 per share. 7 percent market risk premium and 4 percent risk-free rate. Assume the company's tax rate is 34 percent. Required: Find the WACC. (Do not round your intermediate calculations.)