Given the following information , find the WACC. Assume the company's tax rate is 35%.

Debt:	3,000 7.5% coupon bonds outstanding, $1,000 par value, 20 years to maturity, selling for 95% of par; the bonds make semiannual payments.
Common stock:	100,000 shares outstanding, selling for $55 per share; the beta is 1.05.
Preferred Stock:	12,000 shares of 8% preferred stock outstanding, with a $100 par value, currently selling for $104 per share.
Market:	7% market risk premium and 6% risk free rate.