You are given the following information for Watson Power Co. Assume the company's tax rate is 35 percent. 6.000 6.7 percent coupon Pones outstanding. $1.000 par value. 25 years to maturity, selling for 103 percent of par; the Ponds make semiannual payments. 390.000 shares outstanding, selling for $57 per share; the beta is 1.13. 17,000 shares of 4 percent preferred stock outstanding, currently selling for $77 per share. 6 percent market risk premium and 4.7 percent risk-free rate. What is the company's WACC? (Do not round informed ate calculations Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)