You are given the following information for Watson Power Co. Assume the company's tax rate is 22 percent. 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. Debt: Common stock: 400.000 shares outstanding, selling for $58 per share: the beta is 1.09. Preferred 17000 shares of 3.4 percent preferred stock outstanding. currently stock: 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 compan's WACC? (Do not round Intermedlate calculations and enter your answer as a percent rounded to 2 declmal places, e.g, 32.16.) WACC