Information on Power Co., is shown below. The company's tax rate is 38 percent.

Debt:8,800 8.1 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 103.5 percent of par; the bonds make semiannual payments

Common stock:213,000 shares outstanding, selling for $83.30 per share; beta is 1.18.

Preferred stock:12,300 shares of 5.9 percent preferred stock outstanding, currently selling for $97.70 per share.

Market:7.15 percent market risk premium and 4.95 percent risk-free rate.

What is the the company's WACC?