You are given the following information for Cleen Power Co. Assume the companys tax rate is 40 percent.

Debt: 7,000 6.2 percent coupon bonds outstanding, $1,000 par value, 15 years to maturity, selling for 105 percent of par; the bonds make semiannual payments.

Common stock: 340,000 shares outstanding, selling for $52 per share; the beta is 1.08.

Market: 8 percent market risk premium and 4.2 percent risk-free rate.

What is the company's WACC?