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You are given the following information for Lightning Power Company. Assume the company s tax rate is 2 5 percent. Debt: 2 5 , 0

You are given the following information for Lightning Power Company. Assume the companys tax rate is 25 percent.
Debt: 25,0007.4 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 106 percent of par; the bonds make semiannual payments.
Common stock: 580,000 shares outstanding, selling for $76 per share; beta is 1.15.
Preferred stock: 26,000 shares of 5.2 percent preferred stock outstanding, a $100 par value, selling for $97 per share.
Market: 6 percent market risk premium and 4.8 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.

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