Information on Janicek Power Co., is shown below. Assume the company's 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.

Calculate the company's WACC. (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places.)