You are looking at the following Information: Debt: Common stock: Preferred stock: 3,500 7.5 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 104 percent of par, the bonds make semiannual payments. 87,500 shares outstanding, selling for $64 per share; the beta is 1.14. 12,500 shares of 6.5 percent preferred stock (review my Ch.8 slide 43: what does". % preferred stock phrase mean?) outstanding, currently selling for $107 per share. 9 percent market risk premium and 6 percent risk-free rate. Market: The company is in the 34 percent tax rate bracket based on its corporate Income. Required: Find the WACC. (Do not round your Intermediate calculations.)