The Saunders Investment Bank has the following financing outstanding. \begin{tabular}{|c|c|} \hline Debt: & \begin{tabular}{l} 52,000 bonds with a coupon rate of 4.8 percent and a current price \\ quote of 106.5 ; the bonds have 14 years to maturity and a par value of \\ $1,000. 17,300 zero coupon bonds with a price quote of 25.7,30 years \\ until maturity, and a par value of $10,000. Both bonds have semiannual \\ compounding. \end{tabular} \\ \hline \begin{tabular}{l} Preferred \\ stock: \end{tabular} & \begin{tabular}{l} 147,000 shares of 3.7 percent preferred stock with a current price of \\ $92 and a par value of $100. \end{tabular} \\ \hline \begin{tabular}{l} Common \\ stock: \end{tabular} & \begin{tabular}{l} 2,140,000 shares of common stock; the current price is $84 and the beta \\ of the stock is 1.20 . \end{tabular} \\ \hline Market: & \begin{tabular}{l} The corporate tax rate is 22 percent, the market risk premium is 6.8 \\ percent, and the risk-free rate is 3.2 percent. \end{tabular} \\ \hline \end{tabular} 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.)