You are given the following information for Lighting Power Company. Assume the company's tax rate is 25 percent. Debt: 15,0006.4 percent coupon bonds outstanding, $1,000 par value, 28 years to maturity, selling for 106 percent of par; the bonds make semiannual payments. Common stock: 480,000 shares outstanding, selling for $66 per share; the beta is 1.17 . Preferred stock: Market: 21,000 shares of 4.2 percent preferred stock outstanding, a $100 par value, currently selling for $87 per share. 5 percent market risk premium and 5.3 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.)