You are given the following information for Lighting Power Company. Assume the companys tax rate is 23 percent.

Debt:18,000 6.7 percent coupon bonds outstanding, $1,000 par value, 25 years to maturity, selling for 108 percent of par; the bonds make semiannual payments. Common stock:510,000 shares outstanding, selling for $69 per share; the beta is 1.20. Preferred stock:22,500 shares of 4.5 percent preferred stock outstanding, a $100 par value, currently selling for $90 per share. Market:5 percent market risk premium and 5.6 percent risk-free rate.

What is the company's WACC