You are given the following information concerning Parrot head Enterprises: Debt: 10,500 7 percent coupon bonds outstanding, with 25 years to maturity and a quoted price of 107.75. These bonds pay interest semiannually. Common stock: 300,000 shares of common stock selling for $66.00 per share. The stock has a beta of 1.01 and will pay a dividend of $4.20 next year. The dividend is expected to grow by 5 percent per year indefinitely. Preferred stock: 9,500 shares of 4.5 percent preferred stock selling at S95.50 per share. Market: A 10,5 percent expected return, a risk-free rate of 5 percent, and a 35 percent tax rate. Required: Calculate the WACC for Parrot head Enterprises. (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).)