1 Problem 14-15 Finding the WACC [LO3] 10 points You are given the following information for Lighting Power Company. Assume the company's tax rate is 22 percent. Skipped Debt: 22,000 7.1 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 107 percent of par; the bonds make semiannual payments. eBook Hint Common stock: 550,000 shares outstanding, selling for $73 per share; the beta is 1.17. Print Preferred stock: 24,500 shares of 4.9 percent preferred stock outstanding, a $100 par value, currently selling for $94 per share. References Market: 6 percent market risk premium and 5.2 percent risk-free rate. What is the company's WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) WACC %