You are given the following information on Parrothead Enterprises: Debt: 9,9007.4 percent coupon bonds outstanding, with 21 years to maturity and a quoted price of 106,25 . These bonds pay interest semiannually and have a par value of $1,000. Common stock: 270,000 shares of common stock selling for $65.40 per share. The stock has a beta of .97 and will pay a dividend of $3.60 next year. The dividend is expected to grow by 5.4 percent per year indefinitely. Preferred stock: 8,900 shares of 4.7 percent preferred stock selling at $94.90 per share. The par value is $100 per share. Market: 11.1 percent expected return, risk-free rate of 4.05 percent, and a 24 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. Answer is complete but not entirely correct