You are given the following information on Parrothead Enterprises:

Debt: $,8,9007$ percent coupon bonds outstanding, with $25$ years to maturity

and a quoted price of $107\mathrm{.}75.$ These bonds pay interest semiannually

and have a par value of $$2,000.$

Common stock: $300,000$ shares of common stock selling for $$66\mathrm{.}00$ per share. The

stock has a beta of $1\mathrm{.}05$ and will pay a dividend of $$4\mathrm{.}20$ next year. The

dividend is expected to grow by $5$ percent per year indefinitely.

Preferred stock: $9,500$ shares of $4\mathrm{.}5$ percent preferred stock selling at $$95\mathrm{.}50$ per

share. The par value is $$100$ per share.

Market: $,10\mathrm{.}5$ percent expected return, risk$-$free rate of $4\mathrm{.}35$ percent, and a $25$

percent tax rate.

Calculate the company's WACC. $($Do not round intermediate calculations and enter

your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

WACC