You are given the following information for Lightning Power Company. Assume the company's tax rate is 21 percent. Debt: 12,000 bonds with a 4.6 percent coupon outstanding, $1,000 par value, 25 years to maturity, selling for 105 percent of par; the bonds make semiannual payments. Common stock: 575,000 shares outstanding, selling for $81 per share; the beta is 1.04. Preferred stock: 30,000 shares of 3.4 percent preferred stock outstanding, a $100 par value, currently selling for $94 per share. Market: 7 percent market risk premium and 3.2 percent risk-free rate. What is the company's WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)