You are given the following information on Parrothead Enterprises:

Debt: $9,2006\mathrm{.}4$ percent coupon bonds outstanding, with $23$ years to maturity

and a quoted price of $104\mathrm{.}5.$ These bonds pay interest semiannually and

have a par value of $$1,000.$

$235,000$ shares of common stock selling for $$64\mathrm{.}70$ per share. The stock

has a beta of $\mathrm{.}92$ and will pay a dividend of $$2\mathrm{.}90$ next year. The

dividend is expected to grow by $5\mathrm{.}2$ percent per year indefinitely.

Preferred stock: $8,200$ shares of $4\mathrm{.}6$ percent preferred stock selling at $$94\mathrm{.}20$ per

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

Market:

$11\mathrm{.}8$ percent expected return, risk$-$free rate of $3\mathrm{.}7$ percent, and a $22$

percent tax rate.

Calculate the company's WACC.

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places,