Problem You have been appointed as the new CFO of Oitenta, Inc. You are going to evaluate all investments in fixed assets using the cost of capital. Examining the balance sheet and records, you see the following information: Market: 6% market risk premium. 4.4% risk-free rate. Company's tax rate is 22%. Debt: 7,000 bonds, 5.6% coupon bonds outstanding, with semiannual payments. $1,000 face value. 22 years to maturity. Selling at $1,040 per bond. Common stock: 400,000 shares outstanding. Priced at $58 per share. Beta is 1.09. Preferred stock: 17,000 shares preferred stock outstanding. Priced at $79 per share. $3.40 dividend per share. What is the company's WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 12.34.) WACC