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Please do not use excel or a spreadsheet. I would appreciate if you could show work written out or on a piece of paper. Thank

image text in transcribedPlease do not use excel or a spreadsheet. I would appreciate if you could show work written out or on a piece of paper. Thank you!

You are given the following information for lighting power company. Assume the company's tax rate is 21%. Debt: 21,000 7 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity selling for 108 percent of par; the bonds make semiannual payments Common Stock: 540,000 shares outstanding, selling for $72 per share; the beta is 1.18 Preferred stock: 24,000 shares of 4.8 percent preferred stock outstanding, a $100 par value, currently selling for $93 per share Market: 5 percent market risk premium and 5.3 percent risk-free rate What is the company's WACC

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