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You are given the following information for Lightning Power Company. Assume the company's tax rate is 21 percent. 12,000 bonds with a 4.6 percent coupon

You  are  given the following information for Lightning Power Company. Assume the company's tax rate is 21 percent.

12,000 bonds with a 4.6 percent coupon outstanding. $1,000 par value, 25 years to maturity, selling for 105 



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. 575,000 shares outstanding, selling for $81 per share; the beta is 1.04. 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.) Debt: Common stock: Preferred stock:

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