2 P14-15 Finding the WACC [LO3] Consider the following information for Evenflow Power Co., 20 points Debt Common stock Preferred stock: 3,000 5 percent coupon bonds outstanding, $1,000 par value, 20 years to maturity, selling for 105 percent of par, the bonds make semiannual payments. 69,000 shares outstanding, selling for $57 per share the beta is 1.08 8,500 shares of 3.5 percent preferred stock outstanding, currently selling for $106 per share. 5.5 percent market risk premium and 3 percent risk-free rate. Market: Assume the company's tax rate is 32 percent. Required: Find the WACC. (Do not round your intermediate calculations.)