You are given the following information concerning Parrothead Enterprises:

Debt:		9,300 6.5 percent coupon bonds outstanding, with 22 years to maturity and a quoted price of 104.75. These bonds pay interest semiannually.
Common stock:		240,000 shares of common stock selling for $64.80 per share. The stock has a beta of .88 and will pay a dividend of $3.00 next year. The dividend is expected to grow by 5.3 percent per year indefinitely.
Preferred stock:		8,300 shares of 4.65 percent preferred stock selling at $94.30 per share.
Market:		An expected return of 11.7 percent, a risk-free rate of 5.15 percent, and a 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