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You are given the following information on Parrothead Enterprises: Debt: 9 , 1 0 0 6 . 3 percent coupon bonds outstanding, with 2 4

You are given the following information on Parrothead Enterprises:
Debt: 9,1006.3 percent coupon bonds outstanding, with 24 years to maturity and a quoted price of 104.25. These bonds pay interest semiannually and have a par value of $1,000.
Common stock: 230,000 shares of common stock selling for $64.60 per share. The stock has a beta of .91 and will pay a dividend of $2.80 next year. The dividend is expected to grow by 5.1 percent per year indefinitely.
Preferred stock: 8,100 shares of 4.55 percent preferred stock selling at $94.10 per share. The par value is $100 per share.
Market: 11.9 percent expected return, risk-free rate of 3.65 percent, and a 21 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, e.g.,32.16.

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