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You are given the following information for Lightning Power Company. Assume the company's tax rate is 2 5 percent. Debt: , 1 5 , 0

You are given the following information for Lightning Power Company. Assume the company's tax rate is 25 percent.
Debt: ,15,0006.4 percent coupon bonds outstanding, $1,000 par value, 28
years to maturity, selling for 106 percent of par; the bonds make
semiannual payments.
480,000 shares outstanding, selling for $66 per share; beta is
1.17.
21,000 shares of 4.2 percent preferred stock outstanding, a $100
par value, selling for $87 per share.
5 percent market risk premium and 5.3 percent risk-free rate.
Market :
What is the company's WACC?
Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.
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