The Saunders Investment Bank has the following financing outstanding.

Debt:	46,000 bonds with a coupon rate of 5.1 percent and a current price quote of 105.3; the bonds have 15 years to maturity and a par value of $1,000. 16,100 zero coupon bonds with a price quote of 24.8, 30 years until maturity, and a par value of $10,000. Both bonds have semiannual compounding.

Preferred stock:	141,000 shares of 3.6 percent preferred stock with a current price of $87 and a par value of $100.
Common stock:	2,020,000 shares of common stock; the current price is $78 and the beta of the stock is 1.10.
Market:	The corporate tax rate is 21 percent, the market risk premium is 7.1 percent, and the risk-free rate is 3.1 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.)