Given the following information for Valley Power Co., find the WACC. Assume the company's tax rate is 35 percent. Debt: 3,000 bonds outstanding (7.5 percent coupon rate, $1,000 par value, eight years to maturity, selling for 102 percent of par; the bonds make semi-annual payments) Common stock: 75,000 shares outstanding selling for $55 per share; the beta is .95 Preferred stock: 10,000 shares of preferred stock outstanding, currently selling for $63 per share, paying $6 dividend per share. Market: 8 percent market risk premium and 5 percent risk-free rate