The IPO Investment Bank has the following financing outstanding .Debt:130,000 bonds with a coupon rate of 9 percent and a current price quote of 112; the bonds have 20 years to maturity. 300,000 zero coupon bonds with a price quote of 17 and 30 years until maturity. Both bonds have a par value of $1,000 and semiannual coupons. Preferred stock:220,000 shares of 7 percent preferred stock with a current price of $69, and a par value of $100. Common stock:3,300,000 shares of common stock; the current price is $55, and the beta of the stock is 1.0 .Market:The corporate tax rate is 22 percent, the market risk premium is 6 percent, and the risk-free rate is 3 percent.

What is the WACC for the company? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)