6 Problem 14-15 Finding the WACC [LO3] You are given the following information for Watson Power Co. Assume the company's tax rate is 25 percent. 10 points Debt: 10,000 5.9 percent coupon bonds outstanding, $1,000 par value, 25 years to maturity, selling for 107 percent of par,; the bonds make semiannual payments. Commorn stock: 430,000 shares outstanding, selling for $61 per share; the beta is 1.12 Preferred stock: 18,500 shares of 3.7 percent preferred stock outstanding, currently selling for $82 per share. The par value is $100 per share. Market: 6percent market risk premium and 4.7 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