You are given the following information for Watson Power Co. Assume the company's tax rate is 22 percent. Debt: 7,000 5.6 percent coupon bonds outstanding. $1,000 par value, 22 years to maturity, selling for 104 percent of par; the bonds make semiannual payments. Common stock: 400,000 shares outstanding, selling for $58 per share; the beta is 1.09. Preferred stock: 17,000 shares of 3.4 percent preferred stock outstanding, currently selling for $79 per share. The par value is $100 per share. Market: 6 percent market risk premium and 4.4 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.) WACC Lannister Manufacturing has a target debt-equity ratio of 35. Its cost of equity is 12 percent, and its cost of debt is 6 percent. If the tax rate is 21 percent, 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.) WACC