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Consider the following information for Evenflow Power Co., Debt: 5,500 8 percent coupon bonds outstanding, $1,000...

Consider the following information for Evenflow Power Co., Debt: 5,500 8 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 104 percent of par; the bonds make semiannual payments. Common stock: 121,000 shares outstanding, selling for $64 per share; the beta is 1.13. Preferred stock: 18,000 shares of 7 percent preferred stock outstanding, currently selling for $106 per share. Market: 9.5 percent market risk premium and 6.5 percent risk-free rate. Assume the company's tax rate is 33 percent.

Find the WACC.

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