Consider the following information for Watson Power Co.: Debt: Common stock: 2,500 6.5 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 104 percent of par; the bonds make semiannual payments. 55,000 shares outstanding, selling for $61 per share; the beta is 1.11. 8,500 shares of 6 percent preferred stock outstanding, currently selling for $106 per share. 7 percent market risk premium and 5.5 percent risk-free rate. Preferred stock: Market: Assume the com any's tax ate is 35 percent. Find the WACC. Multiple Choice 9.16% 9.57% 8.76% 8.66% 8.89%