You are given the following information concerning Parrothead Enterprises:

Debt:8,500 7.1 percent coupon bonds outstanding, with 24 years to maturity and a quoted price of 106.75. These bonds have a par value of$2,000 and pay interest semiannually.

Common stock:280,000 shares of common stock selling for $65.60 per share. The stock has a beta of 1.06 and will pay a dividend of $3.80 next year. The dividend is expected to grow by 5.1 percent per year indefinitely.

Preferred stock:9,100 shares of 4.55 percent preferred stock selling at $95.10 per share.

You are given the following information concerning Parrothead Enterprises:

Debt:8,500 7.1 percent coupon bonds outstanding, with 24 years to maturity and a quoted price of 106.75. These bonds have a par value of$2,000 and pay interest semiannually.

Common stock:280,000 shares of common stock selling for $65.60 per share. The stock has a beta of 1.06 and will pay a dividend of $3.80 next year. The dividend is expected to grow by 5.1 percent per year indefinitely.

Preferred stock:9,100 shares of 4.55 percent preferred stock selling at $95.10 per share.

Market:10.9 percent expected return, a risk-free rate of 4.15 percent, and a 21 percent tax rate.What is the firm's cost of each form of financing?(Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimalplaces, e.g., 32.16.)

Calculate:

• Cost of Equity % and WACC