Consider the following information for Watson Power Co.: Debt: Common stock: Preferred stock: 2,500 8 percent coupon bonds outstanding, $1.000 par value, 19 years to maturity, selling for 104 percent of par, the bonds have a YTM of 7.6% and make semiannual payments. 55.000 shares outstanding, selling for $59 per share the beta ls 1.13. 8.500 shares of 6.5 percent preferred stock outstanding, currently selling for $105 per share. 10 percent market risk premium and 6.5 percent risk-free rate. Market: Assume the company's tax rate is 32 percent. Find the WACC, show all your work including intermediary steps