You are given the following information for Watson Power Co. Assume the companys tax rate is 22 percent.

Debt:	17,000 6.6 percent coupon bonds outstanding, $1,000 par value, 26 years to maturity, selling for 106 percent of par; the bonds make semiannual payments.
Common stock:	500,000 shares outstanding, selling for $68 per share; the beta is 1.19.
Preferred stock:	22,000 shares of 4.4 percent preferred stock outstanding, currently selling for $89 per share. The par value is $100 per share.
Market:	7 percent market risk premium and 5.5 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.)