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You are given the following information on Parrothead Enterprises: Debt: 9 , 0 0 0 7 . 1 percent coupon bonds outstanding, with 2 4

You are given the following information on Parrothead Enterprises:
Debt: 9,0007.1 percent coupon bonds outstanding, with 24 years to maturity and a quoted price of 108. These bonds pay interest semiannually and have a par value of $2,000.
Common stock: 305,000 shares of common stock selling for $66.10 per share. The stock has a beta of 1.06 and will pay a dividend of $4.30 next year. The dividend is expected to grow by 5.1 percent per year indefinitely.
Preferred stock: 9,600 shares of 4.55 percent preferred stock selling at $95.60 per share. The par value is $100 per share.
Market: 10.4 percent expected return, risk-free rate of 4.4 percent, and a 21 percent tax rate.
Calculate the company's WACC.

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