Given the following information for Magrath Power Co., find the WACC. Assume the company's tax rate is 35 percent. Debt: 10,000 with 6.4%coupon bonds outstanding, $1,000 par value, 25 years to maturity, selling for 108 percent of par; the bonds make semiannual payments. Common stock: 495,000 shares outstanding, selling for $63 per share; the beta is 1.15. Preferred stock: 35,000 shares of 3.5% preferred stock outstanding, currently selling for $72 per share. Market: 7% market risk premium and 3.2 percent risk-free rate.