Raisin Bran Inc., has 12,154 bonds with a 6.67 percent coupon outstanding, $1,000 par value, 9 years to maturity, selling at par; the bonds make semiannual payments. The company has 501,102 shares of common stock outstanding, selling for $97.31 per share; the beta is 1.35. The expected return on the market is 9.25 percent and the risk-free rate is 1.66 percent. The company also has 84,413 shares of 3.95 percent preferred stock outstanding, currently selling for $72.41 per share. Assume the companys tax rate is 26 percent, what is its WACC?