Information on Gerken Power Co. is shown below. Assume the company's tax rate is 34 percent. Debt 8,600 7.9 percent coupon bonds outstanding. $1,000 par value, 24 years to maturity, selling for 1045 percent of par, the bonds make semiannual payments Common stock 211,000 shares outstanding, selling for $83.10 per share, beta is 1.16 Preferred stock 12.100 shares of 5.8 percent preferred stock outstanding, currently selling for $97.90 per share Market 705 percent market risk premium and 4 85 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....32.16.) WACC Hints References eBook & Resources Hint Type here to search E 9