Consider the following information for Watson Power Co.: Debt: 15 Common stock: 4,500 7 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 103 percent of par; the bonds make semiannual payments. 90,000 shares outstanding, selling for $61 per share; the beta is 1.13. 13,500 shares of 5.5 percent preferred stock outstanding, currently selling for $106 per share. 9 percent market risk premium and 5 percent risk-free rate. Preferred stock: Market: Assume the company's tax rate is 32 percent. Find the WACC. Multiple Choice 9.59% 10.55%