Consider the following information for Watson Power Co. Debt: 3,500 8.5 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 103 percent of par, the bonds make semiannual payments. 84,000 shares outstanding, selling for $58 per share; the beta is 1.07. 12,500 shares of 8 percent preferred stock outstanding, currently selling for $106 per share. 9.5 percent market risk premium and 7 percent risk-free rate. Common stock Preferred stock Market Assume the compan's tax rate is 32 percent. Find the WACC Multiple Choice 11.73% 12% 12.57%