You are given the following information for Lighting Power Company. Assume the company's tax rate is 23 percent. Debt: 18,0006.7 percent coupon bonds outstanding, \$1,000 par value, 25 years to maturity, selling for 108 percent of par; the bonds make semiannual payments. Common 510,000 shares outstanding, selling for $69 per share; the beta is 1.20 . tock: Preferred 22,500 shares of 4.5 percent preferred stock outstanding. a $100 par stock: 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? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)