You are given the following information for Lighting Power Company. Assume the company$$s tax rate is $25$ percent.

Debt:

$25,0007\mathrm{.}4$ percent coupon bonds outstanding, $$1,000$ par value, $21$ years to maturity, selling for $106$ percent of par; the bonds make semiannual payments.

Common stock: $580,000$ shares outstanding, selling for $$76$ per share; the beta is $1\mathrm{.}15.$

Preferred stock:

$26,000$ shares of $5\mathrm{.}2$ percent preferred stock outstanding, a $$100$ par value, currently selling for $$97$ per share.

Market: $6$ percent market risk premium and $4\mathrm{.}8$ percent risk$-$free rate