Information on Gerken Power Co., is shown below. Assume the companys tax rate is 30 percent. Debt: 8,700 8 percent coupon bonds outstanding, $1,000 par value, 23 years to maturity, selling for 104 percent of par; the bonds make semiannual payments. Common stock: 212,000 shares outstanding, selling for $83.20 per share; beta is 1.17. Preferred stock: 12,200 shares of 5.85 percent preferred stock outstanding, currently selling for $97.80 per share. Market: 7.1 percent market risk premium and 4.9 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.)