You are given the following information on Parrothead Enterprises: \begin{tabular}{ll} Debt: & 9,5007 percent coupon bonds outstanding, with 25 years to maturity \\ & and a quoted price of 105.25 . These bonds pay interest semiannuatly \\ and have a par value of $1,000. & 250,000 shares of common 5 tock selling for $65.00 per share. The stock \\ Common stock: & has a beta of .95 and will pay a dividend of $3.20 next year. The \\ dividend is expected to grow by 5 percent per year indefinitely. & \\ Preferred stock: 8,500 shares of 4.5 percent preferred stock selling at $94.50 per \\ Market: & share. The par value is $100 per share. \\ & 11.5 percent expected return, risk-free rate of 3.85 percent, and a 25 \\ percent tax rate. \end{tabular} Calculate the company's WACC. Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e