You are given the following information for Watson Power Co. Assume the companys tax rate is 23 percent.

Debt:	13,000 6.2 percent coupon bonds outstanding, $1,000 par value, 28 years to maturity, selling for 108 percent of par; the bonds make semiannual payments.
Common stock:	460,000 shares outstanding, selling for $64 per share; the beta is 1.13.
Preferred stock:	20,000 shares of 4 percent preferred stock outstanding, currently selling for $85 per share. The par value is $100 per share.
Market:	6 percent market risk premium and 5.1 percent risk-free rate.

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