Given the following information for Watson Power Co$.,$ find the WACC. Assume the company's tax rate is $21$ percent.

Debt $10,0006\mathrm{.}4$ percent 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 $3\mathrm{.}5$ percent preferred stock outstanding, currently selling for $$72$ per share

Market. $7$ percent market risk premium and $3\mathrm{.}2$ percent risk$-$free rate.

$\backslash$table$[[$Tax rate,$21\%$