Debt:	2,000 6 percent coupon bonds outstanding, $1,000 par value, 20 years to maturity, selling for 103 percent of par; the bonds make semiannual payments.
Common stock:	46,000 shares outstanding, selling for $61 per share; the beta is 1.11.
Preferred stock:	6,000 shares of 5 percent preferred stock outstanding, currently selling for $105 per share.
Market:	8 percent market risk premium and 5 percent risk-free rate.

Assume the company's tax rate is 35 percent.

Find the WACC.