You are given the following information concerning Parrothead Enterprises: Debt: 10,300 7.3 percent coupon bonds outstanding, with 22 years to maturity and a quoted price of 107.25. These bonds pay interest semiannually. Connon stock: 290,000 shares of common stock selling for $65.80 per share. The stock has a beta of .98 and will pay a dividend of $4.00 next year. The dividend is expected to grow by 5.3 percent per year indefinitely. Preferred stock: 9,300 shares of 4.65 percent preferred stock selling at $95.30 per share. Market: An expected return of 10.7 percent, a risk-free rate of 5.15 percent, and 38 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