*I. You are given the following information for Huntington Power Co. Assume the company's tax rate is 38 percent. Debt: 7,000 5.6 percent coupon bonds outstanding, $1,000 par value, 20 years to maturity selling for 108 percent of par; the bonds make semiannual payments. Common Stock: 500,000 shares outstanding, selling for $48 per share; the beta is 1.14. Market:7 percent market risk premium and 2.80 percent risk-free rate. What is the company's WACC? (10 points)