You are given the following information concerning Parrothead 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 $95.50 per share. Market: An expected return of 10.5 percent, a risk-free rate of 5 percent, and a 35 percent tax rate. Calculate the WACC for Parrothead Enterprises. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) WACC %