Information on Janicek Power Co., is shown below. Assume the company’s tax rate is 35 percent. Debt: 9,500 9 percent coupon bonds outstanding, $1,000 par value, 25 years to maturity, selling for 99 percent of par; the bonds make semiannual payments. Common stock: 220,000 shares outstanding, selling for $84.00 per share; beta is 1.25. Preferred stock: 13,000 shares of 5.75 percent preferred stock outstanding, currently selling for $97.00 per share. Market: 7 percent market risk premium and 4.8 percent risk-free rate. Required: Calculate the company's WACC.