Information on Gerken Power Co., is shown below. Assume the companys tax rate is 40 percent.

Debt:		9,400 8.4 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 100.5 percent of par; the bonds make semiannual payments.
Common stock:		219,000 shares outstanding, selling for $83.90 per share; beta is 1.24.
Preferred stock:		12,900 shares of 5.95 percent preferred stock outstanding, currently selling for $97.10 per share.
Market:		7.2 percent market risk premium and 5 percent risk-free rate.

Required: Calculate the company's WACC. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) WACC %