You are given the following information for Huntington Power Co. Assume the companys tax rate is 40 percent. Debt: 10,000 7.1 percent coupon bonds outstanding, $1,000 par value, 25 years to maturity, selling for 107 percent of par; the bonds make semiannual payments.

Common stock: 430,000 shares outstanding, selling for $61 per share; the beta is 1.04.

Market: 10 percent market risk premium and 5.10 percent risk-free rate.

What is the company's WACC?