You are given the following information for Watson Power Co. Assume the company's tax rate is 40 percent. 7,000 6.2 percent coupon bonds outstanding, $1,000 par value, 15 years to maturity, selling for 105 percent of par; the bonds make semiannual payments. 340,000 shares outstanding, selling for $52 per share, the beta is 1.08. 12,000 shares of 5 percent preferred stock outstanding, currently selling for $72 per share. 8 percent market risk premium and 4.2 percent risk-free rate. What is the company's WACC? WACC