You are given the following information for Huntington Power Co. Assume the company's tax rate is 23%.

Debt: $32,000 5.1% coupon bonds outstanding, $2,000 par value, 22 years to maturity, selling for 106% of par. the bonds make semiannual payments.

Common Stock: 480000 shares outstanding, selling for $78 per share; the beta is 1.12

Market: 8% market risk premium and 4.3% risk-free rate.

What is the company's WACC? round to two decimal places.