Consider the following information for Watson Power Co.: Debt Common stock 6,000 7 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 104 percent of par, the bonds make semiannual payments. 132,000 shares outstanding, selling for $62 per share, the beta is 1.09. 19,000 shares of 6 percent preferred stock outstanding, currently selling for $106 per share. 9 percent market risk premium and 5.5 percent risk-free rate. Preferred stock Market Assume the company's tax rate is 32 percent. Find the WACC