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. (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).)

WACC %