Information on Gerken Power Co., is shown below. Assume the companys tax rate is 35 percent.

Debt:		9,000 8 percent coupon bonds outstanding, $1,000 par value, 25 years to maturity, selling for 102.5 percent of par; the bonds make semiannual payments.
Common stock:		215,000 shares outstanding, selling for $83.50 per share; beta is 1.20.
Preferred stock:		12,500 shares of 5.75 percent preferred stock outstanding, currently selling for $97.50 per share.
Market:		7 percent market risk premium and 4.8 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 %