You are given the following information concerning Parrothead Enterprises: Debt:. 10.403 7.4 percent coupon bonds outstanding, with 21 years to maturity and a quoted price of 107.5. These bonds pay interest semiannually Common stock: 295.000 shares of common stock selling for dollar 65.90 per share. The stock has a beta of.99 and will pay a dividend of dollar 4.10 next year. The dividend is expected to grow by 5.4 percent per year indefinitely. Preferred stock: 9.400 shares of 4.7 percent preferred stock selling at dollar 95.40 per share. Market A 10.6 percent expected return, a risk-free rate of 5.4 percent, and a 40 percent tax rate. Required: Calculate the WACC for Parrothead Enterprises. (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).)