Debt Common stock: 4,500 5.5 percent APR coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 103 percent of par, the bonds make semiannual payments. 108,000 shares outstanding, selling for $62 per share; the beta is 105 14,500 shares of 4 percent preferred stock outstanding (note: take this percentage and convert it into decimal format, then multiply times 100 to find the preferred dividend), currently selling for $105 per share. 6 percent market risk premium and 4 percent risk-free rate. Preferred stock Market Assume the company's tax rate is 34 percent. Required: Find the WACC. (Do not round your intermediate calculations.)