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

Debt: 8000 6.5 per cent coupon bonds outstanding, $1000 par value, 25 years to maturity, selling for 106 percent of par; the bonds make semi-annual payments.

Common Stock: 310000 shares outstanding, selling for $57 per share; the beta is 1.05

Preferred Stock: 15000 shares of 4 percent preferred stock outstanding, currentlt selling at $72 per share.

Market: 7 percent market risk premium and 4.5 percent risk free rate.