Information on Janicek Power Co., is shown below. Assume the companys tax rate is 35 percent. Debt: 8,500 7.2 percent coupon bonds outstanding, $1,000 par value, 25 years to maturity, selling for 118 percent of par; the bonds make semiannual payments. Common stock: 225,000 shares outstanding, selling for $87 per share; beta is 1.15. Preferred stock: 15,000 shares of 4.8 percent preferred stock outstanding, currently selling for $98 per share. Market: 7 percent market risk premium and 3.1 percent risk-free rate. Required: Calculate the company's WACC. (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).)