P14-15 Finding the WACC (L03) Consider the following information for Evenflow Power Co., Debt: Common stock: Preferred stock: 2,500 8 percent coupon bonds outstanding, $1,000 par value, 23 years to maturity, selling for 103 percent of par; the bonds make semiannual payments. 57,500 shares outstanding, selling for $64 per share; the beta is 1.19. 9,000 shares of 7 percent preferred stock outstanding, currently selling for $105 per share. 8.5 percent market risk premium and 6.5 percent risk-free rate. Market: Assume the company's tax rate is 32 percent. Required: Find the WACC. (Do not round your intermediate calculations.) Multiple Choice O O 11.14% O 12.13% 11.24% 11.36% O O 11.64%