The following information is available for the Watson Power Company:

Debt 10,000 Bonds each with 6% coupon rate (coupons paid annually), and

$1,000 face value, 25 years to mature, selling at 108% of par value.

Common Stock 500,000 shares selling at $60 per share and with a Beta of 1.2.

Market The Risk-Free Rate is 3% and the Market Risk Premium is 5.5%

What is the WACC for Watson Power ? (Use Market Value Weights for Debt and Equity. Show all calculations.)