The Saunders Investment Bank has the following financing outstanding. Debt: 42,000 bonds with a coupon rate of 4.7 percent and a current price quote of 104.5; the bonds have 11 years to maturity and a par value of $1,000. 15,300 zero coupon bonds with a price quote of 22.8, 26 years until maturity, and a par value of $10,000. Both bonds have semiannual compounding. Preferred stock: 137,000 shares of 3.2 percent preferred stock with a current price of $84 and a par value of $100. Common stock: 1,940,000 shares of common stock; the current price is $74 and the beta of the stock is 1.10. Market: The corporate tax rate is 22 percent, the market risk premium is 6.7 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.)