You are given the following information for Watson Power Co. Assume the company's tax rate is 21 percent. 5,000 bonds with a 5.8 percent coupon outstanding, $1,000 par value, 25 years to maturity, selling for 108 percent of par, the bonds make semiannual payments Debt: Common stock: 575,000 shares outstanding, selling for $64 per share; the beta is 1.09. Preferred stock 35,000 shares of 2.8 percent preferred stock outstanding, currently selling for $65 per share. The par value is $100. Market: 7 / percent market risk premium and 3.2 percent risk-tree 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