The Saunders Investment Bank has the following financing outstanding.

Debt: $,55,000$ bonds with a coupon rate of $5\mathrm{.}1$ percent and a current price

quote of $107\mathrm{.}1$; the bonds have $10$ years to maturity and a par value of

$$1,000.17,900$ zero coupon bonds with a price quote of $29\mathrm{.}3,27$ years

until maturity, and a par value of $$10,000.$ Both bonds have semiannual

compounding.

Preferred $150,000$ shares of $3\mathrm{.}4$ percent preferred stock with a current price of

stock: $,$$$89$ and a par value of $$100.$

Common $2,200,000$ shares of common stock; the current price is $$87$ and the

stock: $,$ beta of the stock is $1\mathrm{.}15.$

Market: $,$ The corporate tax rate is $25$ percent, the market risk premium is $7\mathrm{.}1$

percent, and the risk$-$free rate is $3\mathrm{.}5$ 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$.,32\mathrm{.}16.)$

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