You are given the following information for Watson Power Co. Assume the companys tax rate is 30 percent.

Debt:	9,000 6.4 percent coupon bonds outstanding, $1,000 par value, 20 years to maturity, selling for 107 percent of par; the bonds make semiannual payments.
Common stock:	360,000 shares outstanding, selling for $54 per share; the beta is 1.10.
Preferred stock:	14,000 shares of 4 percent preferred stock outstanding, currently selling for $74 per share.
Market:	11 percent market risk premium and 4.4 percent risk-free rate.

What is the company's WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)