The Saunders Investment Bank has the following financing outstanding.

Debt:	60,000 bonds with a coupon rate of 5.1 percent and a current price quote of 106.1; the bonds have 15 years to maturity and a par value of $1,000. 18,900 zero coupon bonds with a price quote of 21.6, 27 years until maturity, and a par value of $10,000. Both bonds have semiannual compounding.
Preferred stock:	155,000 shares of 2.9 percent preferred stock with a current price of $84 and a par value of $100.
Common stock:	2,300,000 shares of common stock; the current price is $92 and the beta of the stock is 1.20.
Market:	The corporate tax rate is 25 percent, the market risk premium is 6.9 percent, and the risk-free rate is 3.5 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., 32.16.