You are given the following information for Lighting Power Company. Assume the companys tax rate is 24 percent.

Debt:	14,000 6.3 percent coupon bonds outstanding, $1,000 par value, 29 years to maturity, selling for 107 percent of par; the bonds make semiannual payments.
Common stock:	470,000 shares outstanding, selling for $65 per share; the beta is 1.16.
Preferred stock:	20,500 shares of 4.1 percent preferred stock outstanding, a $100 par value, currently selling for $86 per share.
Market:	7 percent market risk premium and 5.2 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.)