You are given the following information for Lighting Power Company. Assume the company's tax rate is 21 percent. Debt: 16,0006.5 percent coupon bonds outstanding, \$1,000 par value, 27 years to maturity, selling for 105 percent of par. the bonds make semiannual payments. Common 490,000 shares outstanding, selling for $67 per share: the beta is 118 . stock Preferred 21,500 shares of 4.3 percent preferred stock (review my Ch. 8 shde 4. stock: what does " \% preferred stock" phrase mean?) outstanding, a \$100 par value, currently selling for $88 per share. Market: 6 percent market risk premium and 5.4 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., 3216.)