You are given the following information for Lightning Power Company. Assume the company's tax rate is 21 percent. 21,000 7 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 108 percent of par; the bonds make semiannual payments. 540,000 shares outstanding, selling for $72 per share; beta is 1.18. Debt: Common stock: Preferred stock: Market: 24,000 shares of 4.8 percent preferred stock outstanding, a $100 par value, selling for $93 per share. 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. WACC %

You are given the following information for Lightning Power Company. Assume the company's tax rate is 21 percent. \begin{tabular}{ll} Debt: & 21,0007 percent coupon bonds outstanding, $1,000 par value, 22 \\ & years to maturity, selling for 108 percent of par; the bonds make \\ & 5 emiannual 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. & 5 percent market risk premium and 5.3 percent risk-free rate. \end{tabular} 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