Information on Janicek Power Co., is shown below. Assume the company's tax rate is 40 percent.

Debt: 9,400 8.4 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 100.5 percent of par; the bonds make semiannual payments.

Common stock: 219,000 shares outstanding, selling for $83.90 per share; beta is 1.24.

Preferred stock: 12,900 shares of 5.95 percent preferred stock outstanding, currently selling for $97.10 per share.

Market: 7.2 percent market risk premium and 5 percent risk-free rate.

Calculate the company's WACC. -------in percent-----