Information on Janicek Power Co., is shown below. Assume the companys tax rate is 34 percent.

Debt:	10,100 8.7 percent coupon bonds outstanding, $1,000 par value, 24 years to maturity, selling for 96 percent of par; the bonds make semiannual payments.
Common stock:	226,000 shares outstanding, selling for $84.60 per share; beta is 1.31.
Preferred stock:	13,600 shares of 5.8 percent preferred stock outstanding, currently selling for $96.40 per share.
Market:	7.05 percent market risk premium and 4.85 percent risk-free rate.

Required:

Calculate the company's WACC.