Debt: Common stock: Preferred stock: 2,500 8.5 percent APR coupon bonds outstanding, $1,000 par value, 20 years to maturity, selling for 105 percent of par; the bonds make semiannual payments. 55,000 shares outstanding, selling for $61 per share; the beta is 1.14. 8,500 shares of 7.5 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 $108 per share. 10.5 percent market risk premium and 7.5 percent risk-free rate. Market: Assume the company's tax rate is 32 percent. Required: Find the WACC. (Do not round your intermediate calculations.) 13.44% 12.46% 12.36% O 12.86% 12.69%