You are given the following information concerning Parrothead Enterprises: Debt: 10,200 7.2 percent coupon bonds outstanding, with 23 years to maturity and a quoted price of 107. These bonds pay interest semiannually. Common stock: 285,000 shares of common stock selling for $65.70 per share. The stock has a beta of .97 and will pay a dividend of $3.90 next year. The dividend is expected to grow by 5.2 percent per year indefinitely. Preferred stock: 9,200 shares of 4.6 percent preferred stock selling at $95.20 per share. Market: A 10.8 percent expected return, a risk-free rate of 5.2 percent, and a 30 percent tax rate. Required: Calculate the WACC for Parrothead Enterprises