You are given the following information for Huntington Power Co. Assume the companys tax rate is 23 percent.

Debt:	20,000 4.8 percent coupon bonds outstanding, $2,000 par value, 23 years to maturity, selling for 105 percent of par; the bonds make semiannual payments.
Common stock:	420,000 shares outstanding, selling for $66 per share; the beta is .91.
Market:	8 percent market risk premium and 3.1 percent risk-free rate.

What is the company's WACC?