The IPO Investment Bank has the following financing outstanding.

Debt: 30,000 bonds with a coupon rate of 9 percent and a current price quote of 114; the bonds have 20 years to maturity. 200,000 zero coupon bonds with a price quote of 19 and 30 years until maturity. Both bonds have a par value of $1,000 and semiannual coupons.

Preferred stock: 120,000 shares of 7 percent preferred stock with a current price of $82, and a par value of $100.

Common stock: 2,300,000 shares of common stock; the current price is $68, and the beta of the stock is 1.3.

Market: The corporate tax rate is 23 percent, the market risk premium is 8 percent, and the risk-free rate is 5 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.)