Consider the following information for Watson Power Co.: Debt: Common stock: Preferred stock: 5,500 5 percent coupon bonds outstanding, $1,000 par value, 18 years to maturity, selling for 103 percent of par; the bonds make semiannual payments. 132,000 shares outstanding, selling for $58 per share; the beta is 1.18. 17,500 shares of 4 percent preferred stock outstanding, currently selling for $105 per share. 6 percent market risk premium and 4 percent risk-free rate. Market: Assume the company's tax rate is 33 percent. Find the WACC