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You are given the following information for Lighting Power Company. Assume the companys tax rate is 21 percent. Debt: 16,000 6.5 percent coupon bonds outstanding,

You are given the following information for Lighting Power Company. Assume the companys tax rate is 21 percent.

Debt: 16,000 6.5 percent coupon bonds outstanding, $1,000 par value, 27 years to maturity, selling for 105 percent of par; the bonds make semiannual payments.
Common stock: 490,000 shares outstanding, selling for $67 per share; the beta is 1.18.
Preferred stock: 21,500 shares of 4.3 percent preferred stock 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?

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