You are given the following information for Lightning Power Company. Assume the company$$s tax rate is $23$ percent.

What is the company's WACC?

Debt: $18,0006\mathrm{.}7$ percent coupon bonds outstanding, $$1,000$ par value, $25$ years to maturity, selling for $108$ percent of par; the bonds make semiannual payments.

Common stock: $510,000$ shares outstanding, selling for $$69$ per share; beta is $1\mathrm{.}20.$

Preferred stock: $22,500$ shares of $4\mathrm{.}5$ percent preferred stock outstanding, a $$100$ par value, selling for $$90$ per share.

Market: $5$ percent market risk premium and $5\mathrm{.}6$ percent risk$-$free rate.