Given the following information for the capital structure for Huntington Power Co., find the weighted average cost of capital (WACC). Assume the companys tax rate is 35 percent. Debt: 5,000 6 percent coupon bonds outstanding, $1,000 par value, 10 years to maturity, selling at par; the bonds make annual payments. Common stock: 175,000 shares outstanding, selling for $58 per share; the beta is 1.10 Market: 7 percent market risk premium and 3 percent risk-free rate. Show all work clearly.