Please do NOT NOT NOT NOT use financial calculator do NOT show steps in this format DO NOT USE THIS !!!!!(keys to use in a financial calculator: 2nd I/Y 2, FV 1000, PV -1050, N 40, PMT 34.5, CPT I/Y) DO NOT TYPE

Using financial calculator: N = 40 PV = -1050 PMT = 34.50 FV = 1000

I = 3.226%

Please show another way. I already had three problems. I would appreciate it if you can show without typing or using a financial calculator.

Please help. Please do NOT use excel. Please do NOT show in excel. Please TYPE the solution. Please do NOT explain by using a financial calculator. Please explain step by step. Please do NOT skip steps! Please keep solution organized. Do NOT type by hand. Do NOT NOT use a financial calculator.

Please SHOW ALL FORMULAS AND WORK STEP BY STEP. Thank you! :)

Problem 14-15 Finding the WACC [LO3]

You are given the following information for Watson Power Co. Assume the companys tax rate is 40 percent.

Debt:	8,000 6.9 percent coupon bonds outstanding, $1,000 par value, 20 years to maturity, selling for 105 percent of par; the bonds make semiannual payments.
Common stock:	410,000 shares outstanding, selling for $59 per share; the beta is 1.15.
Preferred stock:	19,000 shares of 3 percent preferred stock outstanding, currently selling for $79 per share.
Market:	9 percent market risk premium and 4.9 percent risk-free rate.

What is the company's WACC?

(Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

WACC

%