You are given the following information for Lightning Power Co. Assume the company's tax rate is 35 percent.

Debt: 6,000 7.3 percent coupon bonds outstanding, $1,000 par value, 15 years to maturity, selling for 109 percent of par; the bonds make semiannual payments.

Common stock: 450,000 shares outstanding, selling for $63 per share; the beta is 1.06.

Preferred stock: 23,000 shares of 4 percent preferred stock outstanding, currently selling for $83 per share.

Market: 12 percent market risk premium and 5.30 percent risk-free rate.

What is the company's WACC?