Information on Janicek Power Co., is shown below. Assume the companys tax rate is 38 percent.

Debt:	9,300 8.3 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 101 percent of par; the bonds make semiannual payments.
Common stock:	218,000 shares outstanding, selling for $83.80 per share; beta is 1.23.
Preferred stock:	12,800 shares of 5.9 percent preferred stock outstanding, currently selling for $97.20 per share.
Market:	7.15 percent market risk premium and 4.95 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

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