The Saunders Investment Bank has the following financing outstanding.

Debt:	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.
Preferred stock:	147,000 shares of 3.7 percent preferred stock with a current price of $92 and a par value of $100.
Common stock:	2,140,000 shares of common stock; the current price is $84 and the beta of the stock is 1.20.
Market:	The corporate tax rate is 22 percent, the market risk premium is 6.8 percent, and the risk-free rate is 3.2 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.)