Consider the following information for Watson Power Co: Debt Common stock 5,000 6.5 percent coupon bonds outstanding, $1,000 par value, 17 years to maturity, selling for 103 percent of par, the bonds make semiannual payments. 120,000 shares outstanding, selling for $60 per share; the beta is 11. 18,000 shares of 5 percent preferred stock outstanding, currently selling for $104 per share. 8 percent market risk premium and 5 percent risk-free rate. Preferred stock: Market Assume the company's tax rate is 34 percent. Find the WACC. Multiple Choice 9.1% 9.87% 9.5% 9.2%