You are given the following information related to Orange Co. Calculate the WACC for Orange.

• Debt: 13,626 5.4% coupon bonds outstanding, quoted at 98.25, with 30 years to maturity. These bonds pay interest semiannually.
• Common Stock: 300,000 shares common stock selling for $56.53 per share. The stock has a beta of 1.45.
• Preferred Stock: 150,000 shares of preferred stock with a dividend of $6.3 per share. It is currently selling at $109.4 per share.
• Market: The market premium is 6.5%, and the risk-free rate of return is 1.25%.
• tax bracket = 21%

Orange's WACC =________% (Round your answer to two decimal places in percentage.