You are given the following information for Lighting Power Company. Assume the company's tax rate is 21 percent. Debt: 6,0005.5 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 103 percent of par; the bonds make semiannual payments. Common 390,000 shares outstanding, selling for $57 per share; the beta is 1.14 . stock: Preferred 16,500 shares of 3.3 percent preferred stock outstanding, a $100 par stock: value, currently selling for $78 per share. Market: 5 percent market risk premium and 4.3 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.)