You are given the following information for Lightning Power Co. Assume the companys tax rate is 30 percent.

Debt:	6,000 7.9 percent coupon bonds outstanding, $1,000 par value, 25 years to maturity, selling for 108 percent of par; the bonds make semiannual payments.
Common stock:	510,000 shares outstanding, selling for $69 per share; the beta is 1.12.
Preferred stock:	29,000 shares of 4 percent preferred stock outstanding, currently selling for $89 per share.
Market:	10 percent market risk premium and 5.90 percent risk-free rate.

What is the company's WACC? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

WACC

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