Sandhill industries has 8 percent coupon bonds outstanding. These bonds have a market price of $954.41, pay interest semiannually and will mature in six years. The tax rate is 35 percent. The common stock of Sandhill industries has a beta of 1.6 and the market risk. free rate is 4 percent and the expected return on the market is 9 percent. In addition to common stock, Sandhill has 500,000 preferred shares outstanding that pay a quarterly dividend of 50.80 per share and are currently trading for $20.00 a share. The company's outstanding bonds have a face value of $223.174.527. There are 2.5 million shares of common stock outstanding with a current market price of $96.00 per share. Compute the WACC for Sandhill industries, (Round intermediate calculation to 4 decimal places, eg. 15.1253 and round final arswer to 2. decimal places, e.8. 15.25\%.) WACC \%