The Saunders Investment Bank has the following financing outstanding. Debt: 60,000 bonds with a coupon rate of 9 percent and a current price quote of 109.5; the bonds have 20 years to maturity. 230,000 zero coupon bonds with a price quote of 20.5 and 30 years until maturity. Assume semiannual compounding. Preferred stock: 150,000 shares of 7 percent preferred stock with a current price of $76, and a par value of $100. Common stock: 2,600,000 shares of common stock; the current price is $62, and the beta of the stock is 1.35. Market: The corporate tax rate is 30 percent, the market risk premium is 5 percent, and the risk-free rate is 2 percent. What is the WACC for the company? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)