Given the following information for Electric Power Co., find the WACC. Assume the companys tax rate is 40 percent. Debt: 9,000 Bonds, 9 percent coupon bonds outstanding, $1,000 par value, 60 years bond issued 35 years ago, selling for 105 percent of par; the bonds make Quarterly payments. Common stock: 420,000 shares outstanding, selling for $75 per share; Dividend paid last year was $1.09 and growth rate is 5%. Preferred stock: 25,000 shares outstanding, currently selling for $68 per share, preferred dividend is $2.05 Market: 10 percent market risk premium and 6.7 percent risk-free rate, the beta is 1.08.