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

Debt:		10,400 9 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 94.5 percent of par; the bonds make semiannual payments.
Common stock:		229,000 shares outstanding, selling for $84.90 per share; beta is 1.34.
Preferred stock:		13,900 shares of 5.95 percent preferred stock outstanding, currently selling for $96.10 per share.
Market:		7.2 percent market risk premium and 5 percent risk-free rate.

Required: Calculate the company's WACC.