Information on Janicek Power Co., is shown below. Assume the company's tax rate is 40 percent. Debt: 9.900 9.4 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 97 percent of par the bonds maka semiannual payments. Common stock 224.000 shares outstanding, selling for $84 40 per share; beta is 1.29 Preferred stock: 13,400 shares of 5.05 percent proferred stock outstanding, currently selling for $96.60 per share Market: 7.2 percent market risk premium and 5 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).) WACC 7.11%