You are given the following information for White Hill Company. Assume the companys tax rate is 30%.

Debt: 20,000 5.5% coupon bonds outstanding, $1,000 par value, 10 years to maturity, selling for 105% of par; the bonds make semiannual payments.

Common stock: 350,000 shares outstanding, selling for $65 per share; the beta is 0.95.

Preferred stock: 52,000 shares of 4.5% preferred stock outstanding, currently selling for $78 per share.

Market: 8.5% market risk premium and 3.5% risk-free rate.

1. What is the company's WACC? (Round up the numbers up to two decimal places.)
2. Should the company use the same WACC for its upcoming projects?