Consider the following information for Evenflow Power Co., Debt: 3,500 5 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 104 percent of par; the bonds make semiannual payments. Common stock: 73,500 shares outstanding, selling for $56 per share; the beta is 1.11. Preferred stock: 10,000 shares of 4.5 percent preferred stock outstanding, currently selling for $105 per share. Market: 5.5 percent market risk premium and 4 percent risk-free rate. Assume the company's tax rate is 34 percent. Required: Find the WACC. (Do not round your intermediate calculations.)