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You are given the following information for Lightning Power Company. Assume the company's tax rate is 24 percent. Debt: Comion stock: Preferred stoce: worket: 14,
You are given the following information for Lightning Power Company. Assume the company's tax rate is 24 percent. Debt: Comion stock: Preferred stoce: worket: 14, eee 6.3 percent coupon bonds outstanding, $1, eea par value, 29 years to alurity, selling for 107 percent of par; the bonds axe seniannusl payaents. 470,009 shares outstanding, selling for $65 per share; beta is 1.16 . 20,5e9 shares of 4.1 percent preferred stock outstanding, a $100 par value, selling for 886 per share. 7 percent sarket rlsk prealim and 5.2 percent risk-free rate. What is the companys WACC? Note: Do not round Intermedlate calculatlons and enter your answer as a percent rounded to 2 declmal places, e.g., 3210
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