The Saunders Investment Bank has the following financing outstanding.

Debt: 90,000 bonds with a coupon rate of 6 percent and a current price quote of 106.4.; the bonds have 20 years to maturity. 280,000 zero coupon bonds with a price quote of 15.8 and 30 years until maturity. Both bonds have par value of $1000. Both bonds have semiannual compounding.

Preferred Stock: 150,000 shares of 4 percent preferred stock with a current price of $84, and a par value of $100. Common stock: 2,600,000 shares of common stock; the current price is $68, and the beta of the stock is 1.15.

Market: The corporate tax rate is 40 percent, the market risk premium is 7 percent, and the risk-free rate is 3.2 percent. What is the WACC for the company?