You are given the following information for Be Happy Co. Assume the companys tax rate is 35 percent.

Debt:	10,000 7.2 percent coupon bonds outstanding, $1,000 par value, 20 years to maturity, selling for 104 percent of par; the bonds make semiannual payments.
Common stock:	280,000 shares outstanding, selling for $63 per share; the beta is 1.14.
Preferred stock:	17,000 shares of 3 percent preferred stock outstanding, currently selling for $69 per share.
Market:	8 percent market risk premium and 3.5 percent risk-free rate.

What is the company's WACC? (Round your answers to 2 decimal places.)