You are given the following information for Cleen Power Co. Assume the company's tax rate is 35 percent.

Debt: 9,000 7 percent coupon bonds outstanding, $1,000 par value, 20 years to maturity, selling for 106 percent of par; the bonds make semiannual payments.

Common stock: 420,000 shares outstanding, selling for $60 per share; the beta is 1.03.Market:9 percent market risk premium and 5 percent risk-free rate.

What is the company's WACC? (do not round while progressing work, two decimals)