You are given the following information for Lighting Power Company. Assume the company's tax rate is $24$ percent.

Debt: $,9,0005\mathrm{.}8$ percent coupon bonds outstanding, $$1,000$ par value, $24$ years to maturity, selling for $106$ percent of par; the bonds make semiannual payments.

Common stock: $420,000$ shares outstanding, selling for $$60$ per share; the beta is $1\mathrm{.}11.$

Preferred $*18,000$ shares of $3\mathrm{.}6$ percent preferred stock outstanding, a $$100$ par stock: $,$ value, currently selling for $$81$ per share.

Market: $5$ percent market risk premium and $4\mathrm{.}6$ 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$.,32\mathrm{.}16.)$

WACC

$\%$