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

Debt: 24,000 5.2 percent coupon bonds outstanding, $2,000 par value, 23 years to maturity, selling for 107 percent of par; the bonds make semiannual payments.

Common stock: 440,000 shares outstanding, selling for $70 per share; the beta is .95.

Market: 6 percent market risk premium and 3.5 percent risk-free rate.

What is the company's WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)