Consider the following information for Watson Power Co.: Debt: Common stock: 2,000 5.5 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 102 percent of par; the bonds make semiannual payments. 48,000 shares outstanding, selling for $57 per share; the beta is 1.16. 6,000 shares of 4.5 percent preferred stock outstanding, currently selling for $104 per share. 7 percent market risk premium and 4 percent risk-free rate. Preferred stock: Market: Assume the company's tax rate is 31 percent. Find the WACC. Multiple Choice O 8.43% O 8.09% 7.93% 8.66% 8.03%