Consider the following information for Watson Power Company: Debt: 4,0008.5 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 105 percent of par; the bonds make semiannual payments. Common stock: 96,000 shares outstanding, selling for $65 per share; the beta is 1.16 . Preferred stock: 13,000 shares of 7.5 percent preferred stock outstanding, currently selling for $107 per share. Market: 9.5 percent market risk premium and 7 percent risk-free rate. Assume the company's tax rate is 34 percent. Find the WACC. iple Choice 12.42% 13.17% 12.61% 12.11% 12.21% Consider the following information for Watson Power Company: Debt: 4,0008.5 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 105 percent of par; the bonds make semiannual payments. Common stock: 96,000 shares outstanding, selling for $65 per share; the beta is 1.16 . Preferred stock: 13,000 shares of 7.5 percent preferred stock outstanding, currently selling for $107 per share. Market: 9.5 percent market risk premium and 7 percent risk-free rate. Assume the company's tax rate is 34 percent. Find the WACC. iple Choice 12.42% 13.17% 12.61% 12.11% 12.21%