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

You are given the following information for Lightning Power Company. Assume the companys tax rate is 21 percent.
Debt: 21,0007 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 108 percent of par; the bonds make semiannual payments.
Common stock: 540,000 shares outstanding, selling for $72 per share; beta is 1.18.
Preferred stock: 24,000 shares of 4.8 percent preferred stock outstanding, a $100 par value, selling for $93 per share.
Market: 5 percent market risk premium and 5.3 percent risk-free rate.
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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