You are given the following information for Lightning Power Co. Assume the companys 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?(Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

WACC

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