Cullumber Industries has 8 percent coupon bonds outstanding. These bonds have a market price of $954.41, pay interest semiannually, and will mature in six years. The tax rate is 35 percent. The common stock of Cullumber Industries has a beta of 1.6 and the market risk-free rate is 4 percent and the expected return on the market is 9 percent. In addition to common stock, Cullumber has 500.000 preferred shares outstanding that pay a quarterly dividend of $0.40 per share and are currently trading for $20.00 a share. The company's outstanding bonds have a face value of $249.368.720. There are 2.5 million shares of common stock outstanding with a current market price of $98.00 per share. Compute the WACC for Cullumber Industries. (Round intermedlate calculation to 4 decimal places, eg. 15.1253 and round final answer to 2 decimal ploces, es. 15.25\%, WACC %