You are given the following information for Magrath Power Co. Assume the company's tax rate is 35% Debt 10,000 6.4% coupon bonds outstanding, $1,000 par value, 25 years to maturity, selling for 108% of par; the bonds make semiannual payments. Common stock 495,000 shares outstanding, selling for $63 per share the beta is 115. Preferred stock 35,000 shares of 3.5% preferred stock outstanding, currently seling for $72 per share. Market 7% market risk premium and 3.2% risk-free rate. What is the company's WACC? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places.) WACC